XRP News Today: BlackRock Confirms No Immediate XRP ETF Plans Amid Legal Settlement

BlackRock, the world’s largest asset manager, has confirmed that it has no immediate plans to file for an XRP exchange-traded fund (ETF), ending months of speculation that the firm might expand its cryptocurrency product offerings beyond Bitcoin and Ethereum. A spokesperson for BlackRock told The Block that the company will continue to focus only on the two largest cryptocurrencies for its ETF lineup [1].

The potential move had been anticipated by industry observers, particularly after Ripple and the U.S. Securities and Exchange Commission (SEC) filed a joint dismissal to end their years-long legal battle over XRP’s status as a security. Nate Geraci, President of NovaDius Wealth, had previously speculated that BlackRock was waiting for the lawsuit to conclude before submitting an application for an iShares XRP ETF. However, with BlackRock’s recent confirmation, Geraci remarked that the decision not to file was a misstep, as it ignores broader demand in the crypto market [1].

Geraci pointed to the strong performance of futures-based XRP funds, which have attracted over $1 billion in assets since their launch this year, as evidence of market demand for a spot XRP ETF. He also emphasized that limiting crypto ETFs to just Bitcoin and Ethereum could send the message that no other digital assets hold value—a view that he strongly disagrees with [1].

Bloomberg analyst Eric Balchunas also commented on the issue, questioning where the line should be drawn in terms of how many crypto ETFs asset managers should offer. He asked whether an XRP ETF is sufficient or if firms like BlackRock should also consider other major cryptocurrencies such as Solana (SOL) and Tron (TRX) [1].

Despite BlackRock’s current stance, Pro-XRP lawyer John Deaton remains confident that the firm will eventually file for an XRP ETF within the next year. He warned that delaying the application could place BlackRock at a disadvantage compared to the eight other asset managers who have already submitted filings. According to Bloomberg analysts James Seyffart and Eric Balchunas, there is a 95% chance that the SEC will approve XRP ETFs this year [1].

At the time of the report, XRP was trading at around $3.26, having fallen slightly in the previous 24 hours, according to CoinMarketCap data [1].

Source: [1] BlackRock on XRP ETF Question https://www.newsbtc.com/xrp-news/blackrock-on-xrp-etf-question/