TLDR
- Nate Geraci, President of ETFStore, stated that BlackRock is likely to file for a spot XRP ETF.
- He believes it would be illogical for BlackRock to let rivals control the XRP ETF space.
- BlackRock has already achieved leadership in Bitcoin and Ethereum ETFs with massive inflows.
- So far, 15 XRP ETF applications have been submitted to the SEC by various asset managers.
- Firms like Grayscale, Bitwise, WisdomTree, and Franklin Templeton are already pursuing XRP ETFs.
Speculation around a BlackRock XRP ETF has intensified after a new statement by Nate Geraci, President of ETFStore. He expects the asset manager to enter the XRP ETF space, following its dominance in Bitcoin and Ethereum ETFs. Market participants view BlackRock’s future involvement as a strategic inevitability rather than a matter of interest.
BlackRock’s Position Strengthens XRP ETF Expectations
BlackRock has not filed for an XRP ETF, but Geraci believes this delay is only temporary and strategically planned. He emphasized that the firm would not allow competitors to dominate emerging ETF markets without a response. This aligns with BlackRock’s known pattern of entering new sectors once foundational conditions are favorable.
Btw, I still fully expect BlackRock to file for spot sol & xrp ETFs…
As leader in both spot btc & eth ETFs, it would make *zero* sense to cede other top crypto asset ETF categories to competitors.
Related, I also fully expect BlackRock to file for index-based crypto asset ETF.
— Nate Geraci (@NateGeraci) June 12, 2025
The company’s success in the spot Bitcoin ETF space supports this theory. Its iShares Bitcoin Trust attracted $49 billion in inflows, far outpacing its rivals. Similarly, its Ethereum ETF has reached $5.23 billion in inflows, reinforcing BlackRock’s capability to lead.
Competitors, including Grayscale, Bitwise, Franklin Templeton, and WisdomTree, have already applied for an XRP ETF. A total of 15 XRP ETF filings are currently with the SEC, showing significant demand. However, BlackRock’s absence signals that it may be waiting for further developments before initiating its application.
XRP ETF Faces Regulatory and Market Barriers
Although a U.S. court ruled XRP is not a security, the SEC has not issued formal clarification on its regulatory status. This lack of a clear position may be delaying BlackRock’s entry into the XRP segment. Regulatory certainty remains essential for institutional ETF providers like BlackRock.
XRP CME futures launched in May with $19 million in first-day volume, but market depth is still developing. Analysts argue that a more mature derivatives market may be necessary for ETF approval. BlackRock could be monitoring these developments before taking action.
Moreover, liquidity plays a critical role in large-scale ETF operations. XRP has strong liquidity, but some believe it may not yet meet institutional thresholds. Geraci suggests BlackRock may be assessing all these conditions before making a move.
BlackRock’s decision-making in the Bitcoin and Ethereum ETF markets shows a preference for precise timing over early entry. Its success in these sectors supports the view that it will follow the same approach with an XRP ETF. The firm’s methodical strategy often prioritizes long-term positioning over speed.
