- Bitwise CIO Matt Hougan says XRP ETF efforts are “on track.”
- SEC approval is still pending, with a decision expected by late 2025.
- An XRP ETF could bring more legitimacy and demand to the cryptocurrency.
In a move that has caught the attention of crypto investors and financial analysts alike, Bitwise CIO Matt Hougan has hinted at progress on the long-anticipated XRP exchange-traded fund (ETF). While no official approval has been granted yet, recent remarks by Hougan suggest that the regulatory wheels may finally be turning in favor of XRP. This update brings fresh hope to XRP holders who have long awaited wider institutional access to the cryptocurrency.
A Glimpse of Optimism from Bitwise
Matt Hougan made his comments during a recent industry event, where he addressed a crowd of XRP supporters and digital asset enthusiasts. According to Hougan, Bitwise has active filings with the U.S. Securities and Exchange Commission (SEC) for an XRP-based ETF. While he didn’t provide an exact date or timeline for approval, he said the process was “on track” and expressed confidence that progress was being made.
These remarks are particularly notable because they come from one of the leading voices in the crypto ETF space. Bitwise has already established itself as a major player with several digital asset products, and the company’s interest in XRP highlights the growing demand for this specific asset in regulated markets.
The Road to XRP ETF Approval
The idea of an XRP ETF is not new. Crypto investors have been discussing the potential for such a fund for years. However, regulatory uncertainty, especially around the legal status of XRP in the U.S., has delayed any serious movement. The SEC’s lawsuit against Ripple Labs, which began in 2020, played a big role in holding back the possibility of an ETF tied to XRP.
That said, the situation has improved in recent months. Ripple secured a partial legal victory in 2023 when a judge ruled that XRP was not a security when sold on public exchanges. This ruling opened the door to more serious conversations about institutional products involving XRP. Since then, interest in a spot XRP ETF has grown, with Bitwise among the first major firms to file for one.
What an XRP ETF Would Mean for the Market
If approved, an XRP ETF would mark a significant step forward for both the cryptocurrency and the wider digital asset industry. ETFs allow mainstream investors to gain exposure to assets like XRP without needing to directly purchase or store them. This makes it easier and safer for traditional investors to add crypto to their portfolios.
For XRP, the launch of an ETF could lead to increased demand and potentially drive up its price. It would also enhance XRP’s reputation as a legitimate financial asset, especially among conservative investors and institutions that have been cautious about entering the crypto market. Simply put, approval of an XRP ETF would be a major win for Ripple and for the broader adoption of crypto assets.
The SEC’s Role and What Happens Next
The SEC plays a crucial role in determining whether an ETF can move forward. While the agency has been slow to approve spot crypto ETFs in the past, recent developments suggest that its stance may be evolving. Several spot Bitcoin ETFs were approved earlier in 2024, signaling a shift in regulatory attitude toward crypto-based financial products.
Bitwise’s XRP ETF filing was officially accepted by the SEC for review earlier this year. The agency is expected to make a decision by October 2025, but delays are always possible. In the meantime, Hougan’s comments have sparked cautious optimism within the crypto community. Still, investors should remember that nothing is guaranteed until the SEC gives its final approval.
Why This Matters for Crypto Investors
The push for an XRP ETF reflects a broader trend in the financial world. More institutions are looking for safe and regulated ways to engage with digital assets. ETFs serve as a bridge between traditional finance and the crypto world, allowing for easier access and more secure investment options.
While regulatory hurdles remain, Bitwise’s confidence suggests that the tides may be turning. If XRP gets the green light, it could lead the way for more altcoin ETFs in the future. This would not only benefit XRP holders but also help grow the legitimacy of the entire crypto industry.
