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- Ripple’s strategic team expansion hints at a potential XRP ETF launch.
- Ripple’s global hiring spree focuses on roles crucial for ETF-related initiatives.
Ripple (XRP), known for its role as a pivotal token within Ripple Labs’ transactional network, is on a mission to create innovative crypto solutions aimed at a world free from economic barriers. To support this vision, Ripple is actively seeking talent to propel its cryptocurrency Exchange Traded Funds (ETFs) initiatives forward.
A Ripple tweet recently stirred speculation about the firm’s potential plans to launch an XRP ETF. The company has publicly listed several significant positions, highlighting its intent to strengthen its workforce for upcoming projects. Among these are the roles of Senior Product Manager for DeFi in London, and Senior Software Engineer in both Bangalore and Toronto.
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⭐️ Senior Product Manager, DeFi (London)
⭐️ Senior Software Engineer (Bangalore)
⭐️ Senior Software Engineer (Toronto)https://t.co/F5tKrpKHuF— Ripple (@Ripple) January 27, 2024
This speculation was further fueled by a CNF YouTube video that interpreted Ripple’s team expansion as a clear sign of its interest in establishing an XRP ETF. Ripple is particularly interested in finding a Senior Manager for Business Development with a focus on Institutional DeFi, targeting the UK and US markets.
This move is in line with Ripple’s commitment to promoting global financial inclusion and signals the readiness for widespread adoption of Institutional DeFi.
Strategic Hires and Market Speculation
The individual who fills this new role will be crucial in developing key partnerships and leading initiatives, particularly in the area of cryptocurrency ETFs. They will collaborate closely with Ripple’s marketing, trading, product, sales, and engineering teams. This strategic hiring has generated optimistic speculation within the XRP community, with many interpreting it as a step towards the much-anticipated XRP ETF. However, Ripple CEO Brad Garlinghouse has yet to comment on these speculations.
Furthermore, a CNF post highlighted the sequence of potential ETF approvals, with a Bitcoin ETF already approved on January 11th. The post speculated that an Ethereum ETF might be next, supported by BlackRock CEO Larry Fink’s positive outlook on the value of an Ethereum ETF in a recent interview. Valkyrie’s CIO also suggested that an XRP ETF could be on the horizon. XRP’s unique regulatory clarity in the US, alongside Bitcoin, positions it favorably for potential ETF consideration, following the precedent set by Bitcoin and possibly Ethereum.
As of the latest market data, XRP is trading at $0.5271, experiencing a slight decline of 0.94% in the last day and 0.12% over the past week. See chart below:
The accumulation of strategic hires, coupled with market activities and speculation, poses the question: Is Ripple discreetly laying the groundwork for an XRP Exchange Traded Fund (ETF)? The surrounding evidence points towards a probable affirmative.
