隨著 Ripple 的法律勝利重振市場樂觀情緒，XRP ETF 批准時間表出現

加密貨幣投資的格局正在迅速發展，一種數位資產正以前所未有的方式佔據頭條新聞。雖然比特幣和以太坊長期以來一直主導著機構領域，但一個新的競爭者正在步入競爭舞台，承諾重塑加密貨幣市場的未來。

Fresh legal developments have brought XRP back into the spotlight, with recent filings aiming to pave the way for a Ripple (XRP) exchange-traded fund (ETF). Here's a closer look at the latest news and what it means for XRP in the coming months.

新的法律進展使 XRP 重新成為人們關注的焦點，最近提交的文件旨在為 Ripple (XRP) 交易所交易基金 (ETF) 鋪平道路。以下是最新消息及其對 XRP 在未來幾個月的意義的詳細了解。

As institutional interest in cryptocurrency continues to grow, so does the demand for regulated investment vehicles like ETFs. In a recent move, Bitwise Asset Management has filed for an XRP ETF with the U.S. Securities and Exchange Commission (SEC). This filing comes after institutional interest in XRP surged in 2022.

隨著機構對加密貨幣的興趣不斷增長，對 ETF 等受監管投資工具的需求也不斷增長。最近，Bitwise Asset Management 向美國證券交易委員會 (SEC) 申請了 XRP ETF。該文件是在 2022 年機構對 XRP 的興趣激增之後提交的。

If approved by the SEC, the Bitwise XRP ETF would provide investors with a new way to gain exposure to the performance of XRP without purchasing the token directly. This could significantly broaden the institutional participation in the XRP market.

如果獲得 SEC 批准，Bitwise XRP ETF 將為投資者提供一種無需直接購買代幣即可了解 XRP 表現的新方式。這可以顯著擴大 XRP 市場的機構參與度。

However, the approval process for any ETF is typically lengthy and involves several steps. According to legal expert Jeremy Hogan, ETF approvals usually take six to twelve months, suggesting a potential mid-2025 approval date if the SEC's current appeal progresses as expected.

然而，任何 ETF 的審批流程通常都很漫長，並且涉及多個步驟。法律專家傑里米·霍根 (Jeremy Hogan) 表示，ETF 的批准通常需要 6 到 12 個月的時間，如果 SEC 當前的上訴按預期取得進展，批准日期可能會在 2025 年中期。

This timeline is closely tied to the ongoing legal battle between Ripple Labs and the SEC, which could impact the approval of an XRP ETF. In December 2020, the SEC filed a lawsuit against Ripple, alleging that its sales of XRP constituted unregistered securities offerings.

這項時間表與 Ripple Labs 和 SEC 之間正在進行的法律鬥爭密切相關，這可能會影響 XRP ETF 的批准。 2020年12月，SEC對Ripple提起訴訟，指控其銷售XRP構成未註冊的證券發行。

A U.S. court later ruled that while sales to institutional investors breached securities laws, secondary market sales did not. The SEC is currently appealing parts of this decision, with a review set for January 2025.

美國法院後來裁定，雖然向機構投資者的銷售違反了證券法，但二級市場的銷售卻沒有。 SEC 目前正在對該決定的部分內容提出上訴，預計將於 2025 年 1 月進行複審。

Bitwise's filing also lists the SEC as a significant risk factor for investors, highlighting the regulatory hurdles that still exist for XRP and other digital assets. Despite these challenges, Bitwise’s Chief Investment Officer Matt Hougan expressed optimism regarding the XRP ETF filing.

Bitwise 的文件也將 SEC 列為投資者的重大風險因素，突顯了 XRP 和其他數位資產仍存在的監管障礙。儘管有這些挑戰，Bitwise 首席投資長 Matt Hougan 對 XRP ETF 備案表示樂觀。

According to Hougan, the firm only submits ETF applications when a viable path to approval is evident. He also noted XRP's strong community backing and technological robustness, which make it a compelling asset for institutional investors.

據 Hougan 稱，該公司僅在可行的審批途徑明顯時才提交 ETF 申請。他還指出，XRP 擁有強大的社區支持和技術穩健性，這使其成為對機構投資者有吸引力的資產。

Ripple's recent legal successes have also fueled market optimism for XRP. The court's decision in favor of Ripple Labs and its executives has set a precedent that could influence the SEC's stance on cryptocurrency regulations.

Ripple 最近在法律上的成功也激發了市場對 XRP 的樂觀情緒。法院對 Ripple Labs 及其高管有利的判決開創了先例，可能會影響 SEC 對加密貨幣監管的立場。

This ruling concluded that the SEC failed to provide fair notice to Ripple that its sales of XRP were securities offerings and that the court has the authority to decide whether the sales were exempt from registration at a later stage in the lawsuit.

該裁決的結論是，SEC 未能向 Ripple 提供公平通知，表明其銷售 XRP 屬於證券發行，法院有權在訴訟後期決定該銷售是否免於註冊。

After the SEC filed a motion to dismiss the lawsuit, arguing that the court lacks jurisdiction over the SEC's administrative actions, the court denied the motion, allowing the lawsuit to proceed. These developments come amid broader market speculation about regulatory shifts in the United States.

在SEC提出駁回訴訟的動議後，法院認為法院對SEC的行政行為缺乏管轄權，因此駁回了該動議，允許訴訟繼續進行。這些事態發展正值市場對美國監管變化的廣泛猜測之際。

Some analysts predict that changes in the SEC's leadership or policy direction could lead to a more favorable environment for crypto assets like XRP. The anticipation of a more crypto-friendly regulatory framework adds fuel to the optimism surrounding XRP's potential ETF approval.

一些分析師預測，SEC 領導層或政策方向的變化可能會為 XRP 等加密資產帶來更有利的環境。對加密貨幣更友善的監管框架的預期增加了圍繞 XRP 潛在 ETF 批准的樂觀情緒。

Moreover, the interest in XRP ETFs isn't isolated. Firms like Canary Capital and 21Shares have also submitted applications for an XRP ETF, indicating a growing institutional appetite for XRP-based investment products. This collective move underscores the token's increasing legitimacy in the eyes of traditional financial institutions.

此外，對 XRP ETF 的興趣並不是孤立的。 Canary Capital 和 21Shares 等公司也提交了 XRP ETF 申請，顯示機構對基於 XRP 的投資產品的興趣不斷增長。這項集體舉動凸顯了該代幣在傳統金融機構眼中日益增強的合法性。

The possibility of an XRP ETF has also had a positive impact on the token's market performance, with XRP experiencing increased trading volumes and price appreciation. The convergence of legal clarity and institutional interest positions XRP as a frontrunner in the next wave of crypto adoption.

XRP ETF 的可能性也對該代幣的市場表現產生了積極影響，XRP 的交易量增加了，價格也上漲了。法律明確性和機構利益的整合使 XRP 成為下一波加密貨幣採用的領導者。

On the Flipside

另一方面

Why This Matters

為什麼這很重要

An XRP ETF would provide institutional and retail investors with regulated, accessible exposure to XRP, potentially increasing liquidity and market stability. For Ripple and its community, it validates years of technological development and legal efforts, positioning XRP as a significant player in the future of digital finance.

XRP ETF 將為機構和散戶投資者提供受監管、可獲得的 XRP 曝險，從而有可能增加流動性和市場穩定性。對於 Ripple 及其社群來說，它驗證了多年的技術發展和法律努力，將 XRP 定位為未來數位金融的重要參與者。