XRP News Today: BlackRock Delays XRP and Solana ETF Applications Amid SEC Regulatory Uncertainty

BlackRock, the world’s largest asset manager, is reportedly exercising caution before filing applications for spot XRP and Solana (SOL) exchange-traded funds. According to Robert Geraci, the firm appears to be waiting for the U.S. Securities and Exchange Commission (SEC) to finalize a new approval framework for crypto products, suggesting it is closely monitoring regulatory developments that could influence broader institutional access to these digital assets [1]. This strategic delay aligns with broader industry trends, where key players are aligning product launches with regulatory clarity rather than moving independently [1].

With over $53 billion in net inflows for its iShares Bitcoin Trust (IBIT), BlackRock has firmly established itself as a dominant force in the ETF space. Geraci noted that the firm is known for favoring index-based strategies in traditional markets and expects it to apply a similar approach to crypto once the regulatory path is clear [1]. This could eventually lead to not only single-asset altcoin ETFs but also broader index-based crypto ETFs [1]. The firm’s current stance suggests it is waiting for the SEC to potentially approve similar products by October, which could trigger a wave of filings, including from other major firms like Fidelity [1].

The potential entry of BlackRock into the XRP and Solana ETF market is seen as a sign of increased legitimacy for these cryptocurrencies in the institutional space. XRP has recently gained institutional access in South Korea through a custody solution that supports the asset, marking another step toward broader adoption [2]. Additionally, the SEC’s recent clarification that liquid staking does not constitute a security has boosted market activity and encouraged institutional interest, with governance tokens like MNDE and RPL seeing price surges [3].

Speculation about BlackRock’s interest in an XRP ETF has been fueled in part by recent developments in Japan, where SBI Japan, the country's largest banking group, announced new crypto initiatives [4]. These institutional moves, combined with ongoing regulatory updates, have created a more favorable environment for firms like BlackRock to consider entering the XRP and Solana ETF markets [1].

XRP has experienced a significant price increase over the past year, rising from around $0.55 to nearly $2.94, representing a 500% gain [5]. This sharp rise has drawn attention from both retail and institutional investors, with many speculating that the asset could continue to perform well if regulatory hurdles are cleared [1]. Analysts have also highlighted that the potential approval of Solana ETFs could unlock new streams of institutional capital, significantly altering the price dynamics for the asset [6].

As the crypto market continues to evolve, the interplay between regulatory clarity and institutional interest remains a critical factor. BlackRock’s strategic delay in filing for XRP and Solana ETFs underscores the delicate balance large financial firms must maintain between innovation and compliance [1]. The firm’s approach could influence the broader market, setting a precedent for how other asset managers navigate the regulatory environment in the coming months [1].

Source:

[1] Is BlackRock Waiting for the SEC Before Jumping Into XRP and Solana ETFs? (https://coindoo.com/is-blackrock-waiting-for-the-sec-before-jumping-into-xrp-and-solana-etfs/)

[2] XRP Gains Institutional Access in South Korea Through BDACS Custody Launch (https://coindoo.com/xrp-gains-institutional-access-in-south-korea-through-bdacs-custody-launch/)

[3] Bitcoin News Today: SEC Clarity Boosts Liquid Staking Market, Governance Tokens Rise (https://www.ainvest.com/news/bitcoin-news-today-sec-clarity-boosts-liquid-staking-market-governance-tokens-rise-37-5-week-2508/)

[4] Why Is Ripple's (XRP) Price Down Today? (https://cryptoadventure.com/why-is-ripples-xrp-price-down-today/)

[5] A year ago, XRP was trading around $0.55. Today, it's close to $2.94, a massive 500% jump. (https://www.instagram.com/p/DNAqcjOobG_/)

[6] BLACK ROCK price prediction chart for 2025 and beyond (https://www.bitget.com/price/black-rock/price-prediction)