In a striking signal of growing institutional interest in alternative cryptocurrencies, Bitwise Chief Investment Officer Matt Hougan has suggested that a Wall Street-backed XRP exchange-traded fund (ETF) is on the horizon.
The revelation, shared via Amonyx on X, follows recent developments surrounding ETF applications for various altcoins, including Solana, Dogecoin, and XRP, currently pending before the U.S. Securities and Exchange Commission (SEC).
Growing Momentum for Crypto ETFs
Speaking during a CNBC appearance, Hougan responded to questions regarding the SEC’s stance on pending ETF applications tied to leading altcoins. With pro-crypto Paul Atkins at the helm of the commission’s affairs, the conversation touched on the likelihood of regulatory approvals for investment vehicles beyond Bitcoin and Ethereum.
💥JUST IN: Wall Street will launch $XRP ETF!
Matt Hougan CIO at Bitwise explains 🎯
Bullish 🚀 pic.twitter.com/YDpchQKJxX
— Amonyx (@amonbuy) June 11, 2025
“I can’t say I think the SEC is moving in the right direction,” Hougan admitted. “But if you noticed what has happened since we launched Bitcoin and Ethereum ETFs, all they’ve done is lower costs for investors and increase security.”
Hougan emphasized the market’s appetite for broader exposure to digital assets, underscoring Bitwise’s optimism for altcoin ETFs: “The people want exposure to these alternative assets. Why not allow them to access it in a low-cost, safe, secure ETP format?”
XRP: A Leading Contender
Among the altcoins currently under the ETF spotlight, XRP stands out due to its unique regulatory status and established use case in cross-border payments. Following Judge Analisa Torres’ 2023 ruling that XRP is not a security in secondary market transactions, market confidence in the token has risen significantly.
This legal clarity—rare in the U.S. crypto landscape—has paved the way for mainstream financial institutions to consider XRP-based financial products.
Bitwise’s interest in launching an XRP ETF aligns with increasing investor demand for regulated exposure to digital assets beyond Bitcoin and Ethereum. XRP’s underlying utility in Ripple’s payment ecosystem and its growing integration into banking and remittance infrastructures make it an attractive candidate for institutional portfolios.
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Constructive SEC Climate Fuels Optimism
While the SEC has historically taken a cautious approach to crypto ETFs, Hougan’s remarks suggest a shift in tone under the current leadership. “There’s no guarantee that we will get there,” he said, “but we’re very optimistic on many of those alternative assets. The SEC is very constructive, they’re open to discussion, it’s a brighter, fresher air, and we’re enjoying it.”
This evolving regulatory environment, paired with strong market demand, hints at a paradigm shift in how traditional finance views digital assets. For many investors, regulated ETFs represent a safer, more accessible gateway to crypto exposure, bypassing the need for self-custody or navigating crypto exchanges.
XRP ETF May Soon Be Reality
As the first wave of spot Bitcoin and Ethereum ETFs reshapes institutional crypto investment, attention now turns to the next frontier—altcoin ETFs. With Bitwise leading the charge and XRP at the forefront of this new wave, Wall Street may soon open its doors to another transformative asset.
If approved, an XRP ETF would mark a significant milestone in the mainstream adoption of the token and could fuel a fresh wave of capital inflows. The path to altcoin ETFs is unfolding, and XRP could be the first to lead the charge.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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