Ripple CEO Brad Garlinghouse Would 'Certainly Welcome' Backing An XRP ETF
Portfolio Pulse from Mehab Qureshi
Ripple CEO Brad Garlinghouse expressed openness to backing an XRP-focused ETF during a Bloomberg interview. He refrained from commenting on discussions with asset managers like BlackRock, following speculation about BlackRock's interest in an XRP ETF, which was later discredited. Garlinghouse criticized the SEC's approach under Gary Gensler and expressed skepticism about the utility of Dogecoin. XRP's price was reported to be down 3.60% at $0.54.
February 21, 2024 | 11:02 am
News sentiment analysis
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NEGATIVE IMPACT
Garlinghouse's skepticism about Dogecoin's utility and its market dynamics could negatively impact DOGE's perception among investors.
The CEO's skepticism towards Dogecoin, especially highlighting its lack of utility and the role of central figures like Elon Musk, could lead to negative sentiment among potential investors, possibly affecting DOGE's short-term price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ripple CEO's openness to an XRP ETF and criticism of the SEC could influence XRP's market perception and investor sentiment.
The CEO's positive stance on an XRP ETF and critical view of the SEC's regulatory approach could boost investor confidence in XRP, potentially leading to a short-term positive impact on its price. However, the market's reaction to regulatory news and executive opinions can be unpredictable.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90