Ripple President Monica Long has stated that an XRP spot exchange-traded fund (ETF) is likely to be approved "very soon," and is expected to be next in line after the recently approved Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs.
Long's comments suggest a significant shift in the regulatory landscape, potentially opening up (CRYPTO: XRP) to a broader investor base.
What Happened: In a Bloomberg interview on Wednesday, Long suggested an XRP ETF is not just a possibility, but a likely near-term development.
"I think we will see one very soon," she said.
She further clarified that, "I think that we will see more various crypto spot ETFs this year coming out of the US. I think XRP is likely to be next in line after Bitcoin and ETH."
The approval of an XRP ETF would mark a major milestone for the asset and potentially bring in a wave of institutional investment.
Long attributes this anticipated acceleration to an "administration change and the approvals of those filings."
Her comment indicates that shifts in regulatory policy are now creating a more favorable environment for crypto ETF approvals.
She also noted that several companies, including Canary, have already filed for XRP spot ETFs, further solidifying her confidence in their approval.
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Why It Matters: In addition to her comments on the anticipated XRP ETF, Long spoke about the growth in Ripple's payment solutions and the increasing demand for stable coins.
She revealed that Ripple's business in payment solutions doubled last year and she anticipates a strong growth trajectory.
She also spoke about the company's stablecoin, RLUSD which, as she stated, "will have a premium role."
Long said that stablecoins act as a critical part of crypto infrastructure, stating, "it's really the way to on-ramp and off-ramp," and is also "used as a key asset in trading."
"We think that the market is going to grow tremendously over the course of the next year," she added.
Long also spoke about expanding the availability of Ripple USD on exchanges.
When asked about major platforms like Coinbase, she said, "We are continuing to expand distribution and availability of Ripple dollars on other exchanges so I think you can expect to see more availability and more announcements coming soon."
When asked how soon, she replied, "Imminently."
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