BlackRock Expected to File for XRP ETF After Ripple’s SEC Case

• The XRP ETF race will see BlackRock participate after Ripple settles its legal dispute with the SEC according to Nate Geraci.
• The Solana ETF filing awaits BlackRock’s decision since experts believe the firm wants to prevent other companies from leading the altcoin ETF marketplace.
• The entry of Franklin Templeton into the XRP ETF space demonstrates that major asset managers want to explore crypto-based ETFs.

BlackRock plans to initiate XRP exchange-traded fund (ETF) submissions after Ripple solves its extended litigation with the U.S. Securities and Exchange Commission (SEC). The head of The ETF Store, Nate Geraci expects BlackRock to engage in activity against competing cryptocurrency exchange-traded fund launches based on his expertise.

The company can file a Solana ETF proposal whenever BlackRock determines to proceed. Institutional investors currently express increased interest in launching Exchange-Traded Funds that use altcoin assets. The firm operates trillions worth of assets but has only launched Bitcoin and Ethereum crypto ETFs until now. Market experts anticipate that BlackRock will possibly expand its investment approach to encompass alternative digital currencies.

Franklin Templeton Enters the XRP ETF Race

Franklin Templeton joined other financial giants by submitting a request to create an XRP ETF under its management of $1.5 trillion assets this past week. The industry has witnessed an important development since previous applicants have mostly operated as small crypto-specialized entities. The intensified institutional support for XRP-based capitalist products indicates increasing market value for XRP financial solutions.

The SEC extended its decision making process for various XRP ETF applications that crypto asset manager Grayscale submitted alongside other applicants. SEC has adopted conservativeness as the dominant factor when evaluating cryptocurrency-based ETFs which focus on altcoins. The prolonged wait for review decisions creates uncertainties regarding the estimated time required for authorities to give their approval.

BlackRock’s Approach to Crypto ETFs

BlackRock executives indicate that the release of new cryptocurrency ETFs might extend into the distant future despite the increasing demand for altcoin ETFs. Chief investment officer Samara Cohen from BlackRock announced that the company first needs to focus on its already-launched Bitcoin and Ethereum ETFs. Jay Jacobs from the firm’s thematic and active ETF department stated that their main attention is dedicated to Bitcoin and Ethereum cryptocurrencies.

According to Geraci, BlackRock will eventually increase its crypto Exchange-Traded Funds despite its current leadership taking cautious measures. BlackRock could establish XRP and Solana ETFs due to competitive pressure in an evolving market from competitors creating similar funds. Multiple crypto-based ETFs may appear in the market due to rising institutional fascination.