BlackRock Prepared to Join XRP ETF Market FollowingLegal Victory by Ripple
The cryptocurrency market is abuzz with excitement as the legal battle between Ripple and the SEC has officially been dismissed, removing a major regulatory cloud. However, one key player in the industry, BlackRock, is not planning to file for an XRP exchange-traded fund (ETF) immediately.
Despite the cleared regulatory uncertainty and the surge in XRP's price to $3.28, representing a 7.31% increase in 24 hours, BlackRock has confirmed that its focus remains on ETFs backed by Bitcoin and Ethereum. The asset manager's current strategy prioritizes these two cryptocurrencies due to their deeper liquidity, stronger existing institutional demand, and a more established regulatory framework.
Nate Geraci, president of the ETF Store, speculates that BlackRock was waiting for the resolution of the Ripple-SEC case before considering an XRP ETF. He believes that the end of this long-standing case has paved the way for new ventures in the cryptocurrency market, including potential filings for XRP ETFs.
Other asset managers, such as ProShares, Grayscale, Bitwise, 21Shares, and seven others, have already filed for XRP ETFs since late 2024. The addition of BlackRock to this list could give XRP institutional approval, opening up new markets for cryptocurrency exchange-traded funds.
However, BlackRock's official stance is that it has no immediate plans to launch an XRP ETF. The company is likely waiting for clearer market signals and demand before entering the XRP market. Some analysts speculate that BlackRock could eventually expand its crypto ETF offerings to include XRP and other cryptocurrencies like Solana or Polygon if institutional interest grows significantly over time.
In summary, while there is speculation and strong interest from the XRP community about a BlackRock XRP ETF after the Ripple-SEC case resolution, BlackRock’s official stance is that it has no immediate plans to launch an XRP ETF. The asset manager is taking a cautious approach, waiting for clearer market signals and demand before entering the XRP market.
- The dismissal of the Ripple-SEC case has sparked speculation about potential XRP ETF filings, with BlackRock being one of the key players expected to consider such ventures.
- Despite the surge in XRP's price and interest in XRP ETFs from other asset managers, BlackRock is currently focusing on ETFs backed by Bitcoin and Ethereum due to their liquidity, institutional demand, and established regulatory framework.
- Nate Geraci, president of the ETF Store, suggests that BlackRock was holding off on considering an XRP ETF until the resolution of the Ripple-SEC case, and with the case now cleared, he believes this could pave the way for new cryptocurrency market ventures.
- BlackRock has stated that it has no immediate plans to launch an XRP ETF, instead waiting for clearer market signals and demand before entering the XRP market, possibly expanding its crypto ETF offerings to include XRP and other cryptocurrencies if institutional interest grows significantly over time.
