XRP ETF Approval: Bitwise CIO Reveals Timeline, Says it’s a ‘Long Game’ – Coinpedia Fintech News

The potential of the XRP Exchange-Traded Fund (ETF) has attracted great interest in the crypto community. Recently submitted by CBOE Bitwise's XRP ETF 19balong with other companies looking to get approval. Bitwise Chief Investment Officer Matt Hougan has discussed the possibilities of these ETFs in recent discussions, shedding light on the current state of the XRP ETF.

XRP ETF Approval: Issues and Progress

In an interview with Crink CryptoHougan explained that there have been several starts and stops in the ETF application in the past, and some applications have been submitted and later withdrawn. However, the fact that multiple issuers are currently improving their applications suggests that the Securities and Exchange Commission (SEC) is open to investigating these products, but approval is guaranteed. Not there.

While conversations about digital assets such as XRP and Solana have intensified, Hougan is optimistic that the SEC is willing to consider these ETFs more and more. He said that the outlook for the XRP ETF has improved over the past few months and there have been more progress, so the SEC is likely to take a more compromised approach to approving these assets. .

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“I want to be realistic about speed. I think even the pro-crypto SEC is likely to take the time to analyze and get public comments. In my view, this is a long game. In its view, the SEC wants to take a kind view and help investors access these assets through ETP. We will know for the next six months.”

He said.

Matt Hougan's outlook on XRP ETFs

Hougan pointed out that historically, commodity ETFs were only launched when there is a regulated futures market for that commodity, such as gold and even Bitcoin. XRP ETFs do not require a futures market, but they become an important part of the approval process.