With Donald Trump winning the US presidential race, positive developments are expected for Bitcoin and altcoins. One of the most important ones is the approval of different altcoin ETFs other than Bitcoin (BTC) and Ethereum (ETH).
At this point, while Solana and XRP ETFs are at the top of the list, Bitwise CIO Matt Hougan made important statements about XRP.
Bitwise CIO Matt Hougan said in a podcast interview with Thinking Crypto that the true potential of XRP has yet to be discovered due to its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
Stating that there is an untapped and untapped potential in XRP, Matt Hougan stated that he believes that ETF approval will come for XRP.
Hougan added that he believes XRP can reach its full potential if the ongoing regulatory issues are resolved.
When asked about the reasoning behind Bitwise’s decision to pursue an XRP ETF ahead of the US elections, Hougan pointed to XRP’s strong potential.
The famous name emphasized his belief in XRP and said:
“Bitwise believes in the potential of XRP and is confident that it will eventually be discovered. That is why they have applied for an XRP ETF.
Bitwise doesn’t apply for fun, we apply because we think it’s a way to get a product to market.
The SEC lawsuit limits the potential of Ripple and XRP. Ripple's situation can be described as 'operating with both hands tied behind your back'.
With XRP already attracting the attention of many Wall Street firms, imagine what XRP could do if the SEC leaves Ripple and XRP alone.”
Bitwise became the first company to apply for a spot XRP ETF, while Canary Capital also applied for an XRP ETF.
*This is not investment advice.