Following the approval of spot Bitcoin and Ethereum ETFs in the US, eyes have turned to other crypto ETFs.
At this point, while spot Solana and XRP ETF applications are coming, XRP supporter lawyer Jeremy Hogan said that Bitwise will only decide on the XRP ETF application in mid-2025 due to the impact of the ongoing Ripple case appeal.
Jeremy Hogan noted that there are still significant hurdles ahead for the XRP ETF, and that the biggest risk to Bitwise’s XRP ETF is the SEC itself.
Hogan, who shared from his X account, said that the average time frame for ETF approval varies between six and twelve months. Accordingly, Hogan stated that if the SEC's ongoing appeal process in the Ripple case progresses as expected, a decision on the XRP ETF application could come towards the middle of 2025.
Jeremy Hogan noted that ETF applications generally follow a predictable timeline, with approval or denial decisions typically coming within a year.
Noting that the SEC appeal related to the Ripple case will likely affect the XRP ETF decision process, Hogan stated that if the appeal process progresses as expected, a decision will not be made until next summer.
As is known, Bitwise attracted the attention of the market by applying to the SEC for an XRP ETF in October. Later, BBitwise Chief Investment Officer Matt Hougan said that they believed in the potential of XRP and that XRP was still waiting to be discovered.
“Bitwise believes in the potential of XRP and is confident that it will eventually be discovered. That's why they filed for an XRP ETF. Bitwise is not filing for fun,” Hougan said.
Ripple CEO Brad Garlinghouse said that ETF approval was “inevitable” after Bitwise applied for an XRP ETF.
*This is not investment advice.