The U.S. Securities and Exchange Commission (SEC) may delay its decision on the XRP exchange-traded fund (ETF) application until mid-2025. Pro-XRP attorney Jeremy Hogan noted that the ETF approval process typically takes between six to twelve months. If the appeals process proceeds as expected, a decision may not be reached until next summer.
Bitwise’s XRP ETF Application and Trust Message
Bitwise Asset Management attracted attention by submitting an XRP ETF application to the SEC in October. The firm’s Chief Investment Officer, Matt Hougan, stated that the application reflects confidence in XRP’s potential. Hougan emphasized, “Our company only submits applications that have a high likelihood of approval,” indicating optimistic signals for XRP’s future alongside Ripple’s legal victories.
Bitwise’s application coincides with ongoing discussions about XRP’s legal status. As Ripple 
$1 continues its legal battle with the SEC, these developments are closely monitored by market participants. Court rulings favoring Ripple CEO Brad Garlinghouse have bolstered the firm’s recent successes.
How Ripple’s Legal Wins Affect XRP
Ripple’s recent legal victories have positively influenced XRP’s market value and investor confidence. The SEC’s 2020 lawsuit against Ripple was based on claims that XRP was sold as an unregistered security. However, the court’s favorable rulings for Ripple have invalidated many of these claims. Jeremy Hogan suggested that the speed of ETF approval could increase once XRP’s regulatory status clarifies.
Additionally, Ripple’s successes have led to significant price increases for XRP. Crypto analysts predict that XRP could experience a parabolic rise following its recent three-year high. Currently, XRP is trading at $1.14, reflecting a 7.28% increase according to the latest data.
The reduction of legal uncertainties and the potential impacts of ETF approval will be crucial for XRP’s future performance. Investors are advised to closely monitor developments between Ripple and the SEC.
