As institutional investors’ interest in cryptocurrency markets increases, a remarkable statement came from Ripple. In a post made on the company’s official social media account, it was noted that XRP futures and ETFs will start trading on CME and Nasdaq this week.
Ripple CEO Brad Garlinghouse evaluated these developments in a special video series, Crypto In One Minute.
Related News: What Are America’s Ultra-Rich Doing with Bitcoin: An Executive Managing $200 Billion Speaks Out, Secrets Revealed
Garlinghouse began his speech by saying, “It’s exciting to be on this platform after being overlooked for years,” and attributed the interest in crypto ETFs to two main reasons:
- First, Garlinghouse stated that institutional investors trading on Wall Street have not been able to access crypto directly for a long time, and that these investors have had to either use their own custody solutions or turn to centralized exchanges. He said that thanks to these new ETF structures, institutions can trade crypto assets directly through Wall Street.
- Secondly, Garlinghouse said that this development accelerated the institutionalization of the crypto sector, reminding that the Bitcoin ETF was the fastest ETF to reach $ 1 billion to date. He also stated that it passed $ 10 billion in record time and could approach the gold ETF.
*This is not investment advice.
Continue Reading: Ripple CEO Brad Garlinghouse Makes Statement on Cryptocurrency ETFs
