BlackRock Confirms No Plans to File for XRP ETF at This Time
BlackRock has announced it will not file for an XRP ETF, ending speculation that followed recent legal developments regarding Ripple and the SEC.
Key Points
- BlackRock spokesperson confirmed no plans for an XRP ETF currently.
- This decision contrasts with eight other asset managers who have filed for similar funds.
- BlackRock continues to offer Bitcoin and Ethereum ETFs.
- Nate Geraci from NovaDius Wealth criticized the decision, suggesting it overlooks potential in crypto assets beyond BTC and ETH.
- Geraci noted significant demand for XRP ETFs, citing over $1 billion raised by futures-based XRP funds this year.
- Pro-XRP lawyer John Deaton predicts BlackRock may file for an XRP ETF within a year, warning of lost opportunities due to pending applications gaining first-mover advantage.
- Bloomberg analysts estimate a 95% chance the SEC will approve new ETF applications this year.
The current price of XRP is approximately $3.26.
