Pro-XRP lawyer Jeremy Hogan has provided 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 stated that the average timeframe for ETF approval ranges from six to twelve months. Based on this estimate, a decision on the XRP ETF application could be expected by mid-2025 if the SEC’s ongoing appeal process proceeds as anticipated.
XRP ETF: Pro-XRP Lawyer Provides Timeline
Pro-XRP lawyer Jeremy Hogan ’s comments follow Bitwise Asset Management’s October filing for an XRP ETF with the SEC. The application, which cites the SEC as a primary risk factor for investors, remains under review. Jeremy Hogan highlighted that ETF applications typically follow a predictable timeline, with approval or denial usually occurring within a year. He noted that the pending SEC appeal, tied to the Ripple case, will likely influence this process.
The US SEC’s appeal stems from its legal battle against Ripple Labs, where a U.S. court ruled that XRP sales to institutional investors violated securities laws, but secondary market sales did not.
The appeal, which challenges parts of this ruling, is set for review in January 2025. Jeremy Hogan emphasized that the timeline for ETF approval depends heavily on the resolution of this appeal, stating, “We are probably looking at some time next summer, assuming things go as expected with the appeal.”
Bitwise CIO Matt Hougan Stance on Approval
Just like Pro-XRP lawyer Jeremy Hogan, Bitwise Chief Investment Officer Matt Hougan has stated that the company’s filing reflects its confidence in XRP’s potential. He said that the firm files applications only when there is a viable path to approval
Matt Hougan noted that the ETF aims to capitalize on XRP’s strong community support and technological foundation, despite the challenges posed by the US SEC lawsuit.
Other firms, including Canary Capital and 21Shares, have followed Bitwise’s lead by filing similar ETF applications.
Ripple Defendants See Legal Victory
The ongoing legal dispute between the SEC and Ripple Labs continues to shape the regulatory landscape for XRP. In a recent development, the court issued an order in favor of Ripple Labs, XRP II LLC, and Ripple CEO Brad Garlinghouse. This ruling adds to Ripple’s growing momentum following earlier partial victories.
The initial lawsuit, filed by the US SEC in December 2020, alleged that Ripple conducted unregistered securities offerings through XRP sales. The case caused a significant decline in XRP’s market capitalization, which fell from over $140 billion to under $10 billion shortly after the complaint.
However, Ripple’s recent legal successes have contributed to a resurgence in XRP’s market activity and investor confidence. Moreover, speculation about a shift in U.S. regulatory policies has fueled optimism within the cryptocurrency sector. With President-elect Donald Trump signaling intentions to replace SEC Chair Gary Gensler, market participants expect a more crypto-friendly regulatory environment. Moreover, there have rumours Gary Gensler may resign on his own soon.
Amid these moves, crypto analysts have predicted the XRP price may see a parabolic rally after hitting a 3-year high. At press time, XRP was trading at $1.14, a 7.28%surge from the intra day low.
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