Recent interest in XRP ETF highlights significant shifts in market and regulatory landscapes, as noted by Bitwise CIO Matt Hougan in an interview.
Investors Show Interest in XRP ETF
In a CNBC interview, Bitwise CIO Matt Hougan pointed out massive investor demand for an XRP ETF. He emphasized that XRP's community remains loyal despite market fluctuations. According to CoinMarketCap, XRP recorded a 24-hour trading volume of $3.74 billion, reflecting sustained market activity. Hougan believes this level of liquidity signals clear investor interest in a regulated product.
SEC's Position Is a Key Factor
Regulatory developments have further strengthened the case for an XRP ETF. Under its current leadership, the SEC has become more receptive to new crypto products. The commission has acknowledged six XRP ETF filings, including those from Bitwise and Grayscale. Grayscale's proposal has advanced in the review process, enhancing approval prospects.
The Future of Index-Based ETFs
Matt Hougan expressed optimism about the broader ETF landscape. Beyond single-asset products like an XRP ETF, index-based funds covering multiple cryptocurrencies could attract significant interest. Bitwise has already filed for an XRP ETF, strengthening its position in the growing competitive market.
The potential approval of an XRP ETF marks a significant milestone for the market, expected to boost liquidity and institutional investor participation.
