This move demonstrates the firm’s strong belief in XRP’s future potential, especially as Ripple’s long-running legal battles with the SEC draw closer to resolution. The firm’s Chief Investment Officer, Matt Hougan, recently discussed the potential impact this could have on XRP’s future trajectory.
Bitwise’s optimism about XRP stems from its technological capabilities and dedicated user base. In a recent interview, Hougan shared his thoughts on the asset’s promise, despite the legal complications that have held it back. He pointed out that while XRP’s innovative technology, particularly the XRP Ledger, has already proven its worth, its true value has been limited by the ongoing SEC lawsuit.
Hougan likened Ripple’s position to trying to perform with one hand tied behind its back. However, he believes that once the legal clouds clear, XRP could see significant growth, benefiting from both its strong foundation and growing institutional interest.
Bitwise’s push for an XRP ETF highlights the increasing institutional interest in the coin. Hougan noted that traditional financial giants, including Société Générale, are starting to integrate XRP’s technology into their systems, indicating that XRP is gaining recognition from the broader financial sector. If regulatory clarity improves, Hougan believes XRP’s market potential could expand dramatically, making the proposed ETF a pivotal move for the cryptocurrency space.