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2024 was a pivotal year for the Ripple ecosystem, with several notable launches and renewed regulatory optimism.
Despite the ongoing legal wrangle with the U.S. Securities and Exchange Commission (SEC) stretching into its fifth year, XRP saw prices not seen since 2018. At one point, XRP even overtook Tether’s USDT to become the third-largest crypto asset by market cap. Now, Ripple President Monica Long has predicted that XRP could “soon” secure spot exchange-traded funds (ETFs) in the United States, following the approval of Bitcoin and Ethereum products earlier in 2024.
XRP ETFs Coming In 2025?
Billions of dollars flowed into exchange-traded products pegged to Bitcoin (BTC) and Ethereum (ETH) in 2024, and XRP could join the party in the U.S. soon, according to the Ripple President.
Speaking in a recent interview with Bloomberg, Monica Long said she expects several crypto-based exchange-traded funds to go live in the US in 2025. After BTC and ETH, XRP would be the next coin to win approval from the Securities and Exchange Commission, she predicted.
While exchange-traded products for XRP already exist in markets outside the U.S., several asset managers have begun the regulatory process in the United States to launch spot funds that track the price of the Ripple-linked token.
On Dec. 2, WisdomTree became the fourth asset manager to file paperwork for a spot XRP ETF with the SEC, joining Bitwise, Canary Capital, and 21Shares. Bitwise and 21Shares also happened to be among the first issuers of spot BTC ETFs in Jan. 2024.
The veteran Ripple exec hinted that the incoming pro-crypto Donald Trump administration could speed up their approvals. As reported by ZyCrypto, Trump appointed crypto-friendly Paul Atkins to lead the SEC as current chair Gary Gensler is set to resign.
When Will Ripple’s New Stablecoin Start Trading On Coinbase
Besides the prospect of an XRP ETF, Garlinghouse also spoke about Ripple’s recently launched RLUSD stablecoin. Earlier this year, Ripple finally rolled out its own U.S. dollar-pegged stablecoin to the general public on both the XRP Ledger and Ethereum networks. The token is currently available on several platforms, including MoonPay, Uphold, Bitso, Archax, and CoinMENA.
During the Bloomberg interview, Monica Long was asked about when Ripple plans to list RLUSD on major exchanges like Coinbase. While emphasizing that Ripple is seeking to expand the stablecoin’s availability and distribution to more platforms, she revealed that a Coinbase listing could be coming soon. When asked exactly how soon this will happen, she said “imminently.”
At the time of writing, RLUSD has a market capitalization of about $72.6 million, according to CoinGecko data.
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