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Expert Predicts When BlackRock Could Potentially Launch XRP ETF

source-logo  thecryptobasic.com 24 February 2024 09:35, UTC

The industry commentator speculates that a BlackRock ETF filing for XRP would come after the SEC v. Ripple lawsuit resolution.

Prominent crypto industry commentator Ashley Prosper has predicted when BlackRock might file for a spot-based exchange-traded fund (ETF) for XRP.

In a recent post, Prosper asserted that it is a widely acknowledged fact that BlackRock will eventually launch an XRP ETF. Consequently, he expects the top asset manager to apply for the listing of an XRP ETF after a resolution of the lawsuit between the SEC and Ripple.

He noted that BlackRock would launch an XRP ETF regardless of how the lawsuit ends, whether it is through a settlement or a final judgment from Judge Analisa Torres.

#XRP #XRPCommunity
Everyone knows a Blackrock XRP ETF is coming… but when?
Well, would you launch one before the #Ripple v #SEC case is completely over? Or would you wait? I expect the announcement would come within weeks of the case ending, whether that be by Judge Torres's… https://t.co/BiBTRPybYB

— Ashley PROSPER (@AshleyPROSPER1) February 21, 2024

Prosper’s remark comes days after Ripple former director Sean McBride predicted that the crypto community would see an XRP ETF this year or in 2025.

Ripple Lawsuit Edges Close to a Resolution

It bears mentioning that the SEC v. Ripple legal tussle has taken a massive toll on XRP. Several companies have distanced themselves from XRP despite Judge Analisa Torres declaring it as a non-security.

At the moment, the case is currently in the remedies stage. With legal briefs expected to be filed next month, top experts believe a resolution could come up this year.

The possibility of the case heading to the Second Circuit remains uncertain. If the lawsuit is resolved as speculated, it could pave the way for the potential launch of an XRP ETF in the U.S., supposing the forecast materializes.

Discussions About Potential XRP ETF Swirls

Meanwhile, following the launch of multiple Bitcoin spot-based ETFs in January, there have been discussions regarding the prospects of a similar product rolling out for XRP.

These discussions heightened recently after Ripple CEO Brad Garlinghouse said the potential launch of multiple spot-based ETFs around different tokens, including XRP, is inevitable.

However, he was economical with his response on whether Ripple is in talks with top asset managers like BlackRock for the potential launch of an XRP ETF.

“I’m not going to comment on that. I know BlackRock has said some things publicly,” Garlinghouse stated in an interview with Bloomberg’s Kailey Leinz.

Despite refusing to comment on the matter, Garlinghouse noted that BlackRock rolling out an XRP ETF would make sense to the community.

Prospects of BlackRock Launching XRP ETF

BlackRock has been at the center of discussions concerning the possible launch of an XRP ETF. This comes after a bogus XRP ETF filing from the asset manager made its way to the Delaware ICIS last year. The company quickly dismissed the filing as a fake.

However, BlackRock has since been roped into discussions regarding the prospects of launching the product. During an interview with Fox Business’ Charles Gasparino last year, BlackRock CEO Larry Fink refrained from discussing the company’s plans to launch an XRP ETF in the future.

As Fink’s response stirred speculations that BlackRock could be considering launching an XRP ETF, Gasparino dismissed these claims in a follow-up tweet.

Citing sources with direct knowledge of the matter, Gasparino said the company has no plans to launch an XRP ETF. He emphasized that the July verdict put XRP in a gray area, suggesting that the ruling implies that XRP is simultaneously non-secure and partially secure.

Whether or not BlackRock would apply to launch an XRP ETF after the lawsuit is resolved remains to be seen.