XRP News Today: BlackRock Eyes XRP Solana ETFs Amid Crypto Market Shifts

BlackRock, the world's largest asset manager, is anticipated to enter the race for XRP and Solana ETFs, according to ETF Store President Nate Geraci. While BlackRock has not made any official announcements, Geraci believes that the company is unlikely to miss out on this next wave of crypto ETFs, given its leadership in Bitcoin and Ethereum ETFs.

Geraci's prediction is based on the recent legal clarity surrounding XRP and the launch of regulated XRP futures on the CME. These futures contracts are often seen as a precursor to spot ETF filings. He also suggested that the Grayscale Digital Large Cap Fund, which already holds XRP, could be converted into a full-fledged ETF.

Despite the growing momentum, BlackRock remains focused on its two existing crypto products, the iShares Bitcoin Trust and the iShares Ethereum Trust. Last year, BlackRock’s ETF head, Samara Cohen, stated that only Bitcoin and Ethereum met their standards for liquidity and maturity. However, it is unclear whether this stance has changed given the recent developments in XRP’s legal status.

Regulatory uncertainty remains a significant factor. Ripple and the SEC are awaiting final approval of their settlement, and XRP’s futures market is still developing compared to BTC and ETH.

While BlackRock is taking a wait-and-see approach, other major players are already making moves. Firms like Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton have all submitted applications for spot XRP ETFs. However, the SEC has delayed its decision on these filings, extending its review period for 21Shares’ ETF to October and yet to respond to Grayscale’s filing from May. WisdomTree’s XRP Trust is now under formal review, with the SEC seeking public input on potential risks such as market manipulation.

Globally, XRP ETFs are already making progress. In Switzerland, 21Shares offers the AXRP ETP, and Brazil has become the first country to approve a spot XRP ETF.