BlackRock Delays Filing for Spot XRP ETF Amid Regulatory Concerns
BlackRock has no immediate plans to file for a spot XRP ETF, despite recent developments in the legal battle between the SEC and Ripple Labs. This decision follows their joint request to dismiss appeals, ending nearly five years of litigation.
Key points regarding BlackRock's stance on XRP ETFs:
- Limited client interest in cryptocurrencies beyond BTC and ETH.
- Regulatory uncertainty surrounding altcoins may delay ETF entry.
- Crowded market with at least seven firms having pending XRP ETF applications.
- Diminished expectations of a price surge may not align with BlackRock's data-driven approach.
- Global strategy focuses on markets where XRP demand is lower.
As of now, XRP is trading at approximately $3.1852, down 3.92% in the last 24 hours.