Swedish asset manager Virtune has praised XRP, highlighting a significant feature of the crypto token. This praise comes following the firm’s launch of its exchange-traded product (ETP), which is able to allow investors to realize exposure to XRP. 

XRP Is “Ideal” For International Transfers

In a press release announcing the launch of its Virtune XRP ETP, the asset manager mentioned that XRP is right for international transfers because transactions using the crypto token are accomplished inside seconds. Virtune further noted how XRP offers “unparalleled transparency and reliability” because of its “robust and secure blockchain technology.” 

The asset manager also claimed that XRP’s low transaction fees are a “significant advantage, especially for high-volume transfers.” Moreover, Virtune stated that XRP is backed by a “strong community and is supported by Ripple, a number one company within the fintech industry.”

Virtune’s praise for XRP again highlights how XRP has gained a status for being the long run of cross-border payments. Using XRP, Ripple is disrupting the worldwide economic system and establishing itself as a viable alternative for conducting international transfers through its Ripple payments service. 

Interestingly, Ripple’s CEO Brad Garlinghouse once mentioned that XRP could grow to be the subsequent Bitcoin if the crypto token becomes widely accepted for cross-border payments. He suggested that this might herald trillions of dollars for XRP, which might undoubtedly cause its value to surge significantly. 

XRP’s utility because the crypto token for cross-border payments can be a part of why individuals like pro-XRP Wall Street financial analyst Linda Jones are betting on its potential. She once suggested that XRP could usurp Bitcoin to grow to be the face of the crypto market and even likened it to Apple and Microsoft’s stock, stating that it could possibly be the subsequent big thing within the financial market. 

Virtune Launches First XRP ETP On Nasdaq

Virtune’s XRP ETF was launched on Nasdaq Stockholm and can provide an avenue for institutional investors to realize exposure to XRP. Christopher Kock, CEO of Virtune, revealed that this might be the primary XRP ETP to be listed on Nasdaq. He also mentioned that the investment product is 100% physically backed with XRP, which is stored by crypto exchange Coinbase, the firm’s custodian. 

It’s price mentioning that an XRP ETF stays a possibility in the USA, especially following VanEck and 21 Shares’ application for a Spot Solana ETF. Approval of those funds will likely usher in additional crypto ETF applications, with a Spot XRP ETF potentially next in line after the Spot Solana ETFS. 

Garlinghouse can be convinced that a Spot XRP ETF will launch in the end. He mentioned through the Consensus 2024 conference that Spot XRP, Cardano, and Solana ETFs are ‘inevitable.’ He also previously stated that XRP has already gained regularity clarity, which is another excuse he believes a Spot XRP ETF will launch in some unspecified time in the future. 

On the time of writing, XRP is trading at around $0.47, up within the last 24 hours, in accordance with data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com