BlackRock (BLK), the world’s largest asset manager, has finally addressed the growing question of whether it plans to launch an XRP exchange-traded fund. After months of rumors, a spokesperson told The Block that the firm has no plans to file for such a product at this time.
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The statement ends speculation that BlackRock might join the eight other asset managers who have already applied for an XRP (XRP-USD) ETF. For now, the company is sticking with its existing Bitcoin and Ethereum ETF offerings. This is an indication that it intends to focus only on the two largest cryptocurrencies in terms of market capitalization.
Analysts Say the Decision May Be a Missed Opportunity
Not everyone agrees with BlackRock’s cautious approach. Nate Geraci, president of NovaDius Wealth, had predicted that the firm would file for an iShares XRP ETF once Ripple’s lawsuit with the SEC was resolved. He argued that ignoring all other cryptocurrencies beyond Bitcoin and Ethereum makes “zero” sense, suggesting that it implies only BTC and ETH will ever hold long-term value.
Geraci believes this decision will be seen as a mistake, pointing to over $1 billion in inflows into futures-based XRP funds since their launch earlier this year. To him, that kind of performance shows there is “real” demand for a spot ETF, demand that BlackRock may be leaving to its competitors.
Bloomberg Analysts Question Where the Line Gets Drawn
Bloomberg’s Eric Balchunas also weighed in, asking Geraci whether BlackRock should stop at XRP or expand to other altcoins like Solana (SOL-USD) or Tron (TRX-USD). His question highlights a broader challenge for asset managers: deciding how many crypto ETFs to offer without stretching resources or diluting investor interest.
For now, BlackRock’s choice appears to be about keeping its ETF lineup simple. But with the SEC expected to approve XRP ETFs this year, Bloomberg analysts James Seyffart and Balchunas place the odds at 95%. The timing of this decision could prove critical.
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