The XRP community is abuzz with speculation following BlackRock CEO Larry Fink. elusive comment on the potential of an XRP exchange-traded fund (ETF).
The XRP community is abuzz with speculation following BlackRock CEO Larry Fink. elusive comment on the potential of an XRP exchange-traded fund (ETF).
During a recent Fox Business interview, when asked about an XRP ETF, Fink said, “I can’t talk about that!” when he was asked about an XRP ETF.
This cryptic response has left investors and analysts parsing his words for signs of a possible BlackRock foray into XRP. Financial journalist Charles Gasparino weighed in and pointed out Fink’s limited knowledge of XRP, although he acknowledged growing fluency in Ethereum.
Fink’s journey to Bitcoin
Larry Fink’s cryptocurrency U-turn is a narrative that echoes the broader shift in the financial world.
Speaking to Fox Business, Fink remembered their journey from viewing Bitcoin as a conduit for illicit activities to recognizing its potential as a “digital gold.”
Fink candidly expressed his initial reservations about Bitcoin, aligning with Gary’s position that it was a medium for illicit activities. “I did believe, and this is Gary’s position, that it continues to be one of the vehicles for illicit activity, I don’t think anyone can deny that,” Fink said.
It has now recognized Bitcoin’s role as a safe asset in politically or economically unstable countries, likening it to a cross-border international ledger that transcends government control.
Addressing concerns about negative elements in the crypto space, Fink acknowledged the presence of bad players, but also noted the growing legitimacy of the sector. “There are a lot of bad actors in everything startup-related, but I think it has become more legitimized,” he said, citing the introduction of the Bitcoin ETF as an important step in establishing legitimacy and security within the cryptocurrency market. .
Fink’s changing stance, along with his recognition that Bitcoin ETFs legitimize the crypto space, paints a picture of a financial titan inching closer to embracing digital currencies.
After Bitcoin ETF Approval, Will XRP Follow?
The green light for Bitcoin spot ETFs from the SEC has laid the groundwork for other cryptocurrencies to follow suit.
As Guru-Investingreported, Valkyrie Funds co-founder Steve McClurg, in an interview with Bloomberg, expressed optimism about Ethereum and XRP ETFs following the approval of Bitcoin.
His views are supported by market moves such as Grayscale’s inclusion of XRP in its traded trusts, suggesting a growing appetite for various crypto investment products.
Valkyrie is not committing to launching Ethereum or Ripple ETFs, but the potential for these ETFs to appeal to a broader retail audience underlines the growing mainstream appeal of cryptocurrencies.
It is worth noting that Ripple CEO Brad Garlinghouse recently celebrated the SEC’s approval of Bitcoin spot ETFs, calling it a major milestone in legitimizing cryptocurrencies as a mainstream asset class.
