TLDR
BlackRock holds $462M+ in ETH and leads Bitcoin ETFs, setting stage for possible XRP ETF.
CME’s XRP futures launched in May with $19M volume, boosting chances for a spot ETF.
U.S. SEC is reviewing XRP ETF filings from 21Shares, Grayscale, and others amid legal ambiguity.
Brazil and Switzerland already offer spot XRP ETFs, showing global institutional interest.
Nate Geraci, President of the ETF Store, believes BlackRock will eventually file for a spot XRP ETF. He said this during a recent discussion, where he explained that the company would not let other firms dominate the space. Geraci mentioned that XRP and Solana are among the next top crypto assets after Bitcoin and Ethereum.
XRP ETF Filing by BlackRock is Inevitable
According to Nate Geraci, President of the ETF Store, BlackRock is likely to enter the XRP ETF market soon.
He said that the firm has already established a strong position with its Bitcoin and Ethereum products and would not want to fall behind on other leading digital assets.
Geraci added that other firms are already moving ahead with XRP ETF applications. He believes BlackRock will not let competitors take control of the altcoin ETF market. Geraci also stated that the launch of CME-regulated XRP futures in May may help pave the way for a future XRP ETF filing.
Legal and Market Readiness Still a Concern
Although U.S. courts have stated that XRP is not a security, the SEC has not given final regulatory confirmation.
This ongoing uncertainty is a key reason for BlackRock’s current wait-and-see approach, according to many market watchers. A formal SEC statement could bring more clarity and allow major players to move forward.
The recent launch of XRP futures on the CME was seen as an important milestone. On its first day, trading volume reached $19 million. This launch may help strengthen the case for a Ripple ETF, but the market is still in early development. Futures often support spot ETF filings, but liquidity and stability take time to build.
BlackRock Focuses on Current Offerings
So far, BlackRock has not submitted a filing for a spot XRP ETF. The asset manager continues to focus on its existing crypto products, including the iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Both funds have performed well and attracted strong demand from investors.
BlackRock’s Head of ETF Strategy, Samara Cohen, said in 2024 that Bitcoin and Ethereum were the only assets that met the firm’s standards for maturity and liquidity. It is unclear if BlackRock has changed this position in light of new market and legal developments involving XRP.
Multiple XRP ETF Filings Under SEC Review
Several companies have submitted applications for a spot XRP ETF in the United States. These include Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton. However, the SEC has not yet approved any of these filings.
The agency recently postponed its decision on 21Shares’ application to October 2025. It also began a formal review of the WisdomTree XRP Trust in late May. This review process includes a request for public comments on investor protection and the risk of market manipulation.
Meanwhile, Grayscale’s filing faced a deadline in May, but the SEC chose not to release a decision. This has led to continued uncertainty about the timeline for approval of any XRP ETF in the U.S.
Global XRP Investment Products Gain Momentum
While U.S. regulators remain cautious, XRP-based investment products are already available in other countries. In Switzerland, 21Shares launched the AXRP ETP, which is trading on local exchanges. Brazil has also approved the world’s first spot XRP ETF.
These international moves show growing interest in XRP among institutional investors. They may also provide a reference point for U.S. regulators and financial firms watching the development of these products in other markets.
Nate Geraci said, “BlackRock will never let the major altcoin spot ETF market, including Solana and XRP, go to competitors.” He remains confident that the firm will eventually apply for both Ripple and Solana ETFs.
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