Ripple CEO Brad Garlinghouse has expressed his validation of the U.S. Securities and Exchange Commission’s decision to authorize financial institutions to offer investors spot Bitcoin exchange-traded fund (ETF) products. In a recent with FOX Business, the Ripple boss noted that the approval from the financial regulator is a step closer to bringing cryptocurrencies like Bitcoin into the mainstream. The product is an investment vehicle that allows financial companies to offer a BTC-backed asset to retail and institutional investors. The mechanism of the product mandates that the issuing companies purchase actual BTC.
Source: Mandy Williams, 2024-01-20; https://cryptopotato.com/heres-what-ripple-xrp-ceo-had-to-say-about-the-bitcoin-etfs/