XRP News Today: Bitwise Sees Imminent XRP ETF Amid Growing Institutional Interest

Bitwise Chief Investment Officer Matt Hougan has indicated that a Wall Street-backed XRP exchange-traded fund (ETF) is imminent, signaling a growing institutional interest in alternative cryptocurrencies. This revelation comes amidst ongoing developments surrounding ETF applications for various altcoins, including Solana, Dogecoin, and XRP, which are currently under review by the U.S. Securities and Exchange Commission (SEC).

During a recent appearance on a financial news platform, Hougan addressed questions about the SEC’s stance on pending ETF applications for leading altcoins. With the current leadership at the SEC, the conversation highlighted the potential for regulatory approvals for investment vehicles beyond Bitcoin and Ethereum. Hougan acknowledged the SEC’s cautious approach but noted the positive impact of Bitcoin and Ethereum ETFs on investor costs and security. He emphasized the market’s demand for broader exposure to digital assets, suggesting that altcoin ETFs could provide a low-cost, secure, and regulated format for investors.

Among the altcoins under consideration for ETFs, XRP stands out due to its unique regulatory status and established use case in cross-border payments. A 2023 ruling by Judge Analisa Torres clarified that XRP is not a security in secondary market transactions, boosting market confidence in the token. This legal clarity has encouraged mainstream financial institutions to explore XRP-based financial products. Bitwise’s interest in launching an XRP ETF aligns with the increasing demand for regulated exposure to digital assets beyond Bitcoin and Ethereum. XRP’s utility in Ripple’s payment ecosystem and its integration into banking and remittance infrastructures make it an attractive candidate for institutional portfolios.

Hougan’s remarks suggest a shift in the SEC’s tone under the current leadership, indicating a more constructive and open approach to discussions about crypto ETFs. This evolving regulatory environment, combined with strong market demand, points to a potential paradigm shift in how traditional finance views digital assets. Regulated ETFs offer a safer and more accessible gateway to crypto exposure, eliminating the need for self-custody or navigating crypto exchanges.

As the first wave of spot Bitcoin and Ethereum ETFs reshapes institutional crypto investment, attention is now turning to altcoin ETFs. With Bitwise leading the charge and XRP at the forefront, Wall Street may soon embrace another transformative asset. If approved, an XRP ETF would mark a significant milestone in the mainstream adoption of the token and could attract a fresh wave of capital inflows. The path to altcoin ETFs is unfolding, and XRP could be the first to lead the charge.