Bitwise CIO Matt Hougan Suggests Wall Street-Backed XRP ETF Is Coming

In a striking signal of growing institutional interest in alternative cryptocurrencies, Bitwise Chief Investment Officer Matt Hougan has suggested that a Wall Street-backed XRP

A new era of cryptocurrency investment may be dawning as a surprising revelation by Bitwise Chief Investment Officer Matt Hougan has signaled that an XRP exchange-traded fund (ETF) is on the horizon, backed by a major Wall Street firm.

This development, shared via Amonyx on X, comes amid a flurry of activity surrounding ETF applications for various altcoins, including Solana, Dogecoin, and XRP, which are currently pending approval from the U.S. Securities and Exchange Commission (SEC).

During an appearance on CNBC, Hougan responded to questions about the SEC’s stance on pending ETF applications. With pro-crypto Paul Atkins now at the helm of the commission, the conversation naturally turned to the likelihood of regulatory approvals for investment vehicles beyond Bitcoin and Ethereum.

💥JUST IN: Wall Street will launch $XRP ETF!

Matt Hougan CIO at Bitwise explains 🎯

Bullish 🚀 pic.twitter.com/YDcPHKJxX— Amonyx (@amonbuy) June 11, 2025“I can’t say I think the SEC is moving in the right direction. But if you noticed what has happened since we launched Bitcoin and Ethereum ETFs, all they’ve done is lower costs for investors and increase security,” Hougan remarked candidly.

The Bitwise executive went on to highlight the market’s strong demand for exposure to a broader range of digital assets.

“The people want exposure to these alternative assets. Why not allow them to access it in a low-cost, safe, secure ETP format?” Hougan posed, highlighting Bitwise’s optimism for altcoin ETFs.

Among the altcoins currently in the ETF application spotlight, XRP stands out due to its unique regulatory status and established use case in cross-border payments. Following Judge Analisa Torres’ 2023 ruling that XRP is not a security in secondary market transactions, market confidence in the token has surged.

This legal clarity—a rarity in the U.S. crypto landscape—has paved the way for mainstream financial institutions to consider XRP-based financial products.

This aligns perfectly with Bitwise’s interest in launching an XRP ETF. With investors increasingly seeking exposure to digital assets beyond Bitcoin and Ethereum, and institutions like Fidelity and BlackRock joining the BTC ETF race, the timing couldn’t be better.

XRP's underlying utility in Ripple's payment ecosystem and its growing integration into banking and remittance infrastructures make it an attractive candidate for institutional inclusion in their portfolios.

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While the SEC has historically taken a cautious approach to crypto ETFs, Hougan’s remarks suggest a shift in tone under the current leadership.

“There’s no guarantee that we will get there, but we’re very optimistic on many of those alternative assets,” Hougan added. “The SEC is very constructive; they’re open to discussion; it’s a brighter, fresher air, and we’re enjoying it.”

This evolving regulatory environment, paired with the strong market demand, hints at a paradigm shift in how traditional finance is engaging with new asset classes. For many investors, regulated ETFs present a safer, more accessible route to gain exposure to cryptocurrency.

It would provide an alternative to self-custody or the complexities of navigating cryptocurrency exchanges.

As the first wave of spot Bitcoin and Ethereum ETFs reshapes institutional crypto investment, attention now turns to the next frontier—altcoin ETFs. With Bitwise leading the charge and XRP at the forefront of this new wave, we may soon see Wall Street launch an XRP ETF.

If approved, an XRP ETF would mark a significant milestone in the mainstream adoption of the token and could fuel a fresh wave of capital inflows into the crypto market. The path to altcoin ETFs is unfolding, and XRP could be the first to lead the charge.