Legal Expert Jeremy Hogan Discusses XRP ETF Approval Prospects

Pro-XRP lawyer Jeremy Hogan has provided valuable insights into the potential timeline for the approval of an XRP exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC).

In a recent post on X (formerly Twitter), Hogan noted that XRP ETF approvals typically take six to twelve months, hinting at a potential mid-2025 approval date if the SEC’s current appeal progresses as expected.

Hogan’s comments came in light of Bitwise Asset Management’s October filing for an XRP ETF. The filing lists the SEC as a significant risk factor for investors, underscoring the regulatory challenges faced by cryptocurrency-focused financial products.

Hogan highlighted that ETF applications usually follow a standard timeline, with a decision, either approval or denial, within a year. The pending SEC appeal, linked to the ongoing legal battle with Ripple Labs, is expected to heavily influence the ETF approval process.

The SEC’s Appeal and Its Impact

The SEC’s appeal is connected to its lawsuit against Ripple Labs, which began in December 2020. The SEC alleged that Ripple’s XRP sales constituted unregistered securities offerings. While a U.S. court ruled that sales to institutional investors breached securities laws, it found that secondary market sales did not. The SEC is challenging parts of this decision, with a review set for January 2025.

Hogan noted, “We are probably looking at some time next summer, assuming things go as expected with the appeal.” This suggests that the appeal’s outcome could set the stage for a potential XRP ETF approval timeline.

Bitwise’s Confidence and Broader ETF Applications

Bitwise Chief Investment Officer Matt Hougan has expressed optimism regarding the XRP ETF filing, stating that the firm only submits applications when a viable path to approval exists. He emphasized XRP’s strong community backing and technological robustness despite regulatory hurdles.

Bitwise is not alone; firms like Canary Capital and 21Shares have also submitted XRP ETF applications. The race to launch an XRP ETF reflects growing interest in expanding crypto-based investment options.

The court's recent decision in favor of Ripple Labs and its executives, including CEO Brad Garlinghouse, marks another significant victory for the company. These legal successes have revitalized investor confidence, leading to increased XRP trading activity.

Furthermore, market speculation is buzzing over potential regulatory shifts following President-elect Donald Trump’s win. Trump’s pro-crypto stance has led to expectations of a more favorable regulatory environment, with rumors suggesting that SEC Chair Gary Gensler may resign soon.

What Lies Ahead for XRP

Brad Garlinghouse recently stated that it’s “inevitable” for XRP to be offered through an ETF, reinforcing the community’s anticipation. While regulatory challenges persist, many believe that once the SEC’s lawsuit is resolved, XRP’s market potential could significantly expand.

A successful XRP ETF launch could mirror the positive impact seen after Ethereum’s ETF approval, potentially boosting XRP’s value and use.