We’re on Track for XRP ETF Approval: Bitwise CIO

Bitwise CIO Matt Hougan shared an upbeat outlook on the future of crypto investment at the XRP Las Vegas event.  He said that the XRP ETF is on track, as institutional interest in crypto continues to grow.

During the conference, he said the market is “unlocking” in two big ways: more wealth platforms are opening up to crypto, and the SEC is becoming more open to approving crypto ETFs. A major barrier for institutions, regulatory uncertainty, is starting to ease. Hougan explained, “The approval of ETFs provided a lot of regulatory clarity… and now that the SEC is hopefully allowing more and more ETFs, it’s opening up significantly.”

He also predicted rapid growth in the stablecoin market, especially with the Genius Act likely to pass soon. Stablecoin usage could grow from $250 billion to over $2 trillion in just a few years, first through B2B payments. “You’re going to start feeling it in the next couple of months,” Hougan stated .

When asked about an XRP ETF, Hougan didn’t confirm a timeline but said, “We’re on track.” He added, “We have filings live at the SEC, but I think we’re making progress.” He noted growing institutional interest in assets beyond Bitcoin, like XRP and Solana, and said the SEC is nearing a point where it must make decisions on these new ETF proposals.

Bitwise filed an initial registration statement (Form S-1) with the SEC on October 2, 2024.  The SEC formally approved the submission on February 18, 2025, kicking beginning the review process.  A decision on Bitwise XRP ETF is expected by October 20, 2025.