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Speculation over a potential spot $XRP ETF is electrifying crypto markets as legal clarity, institutional momentum and soaring prediction odds fuel hopes for a landmark investment product.
Blackrock’s History With Bitcoin Raises Questions on $XRP ETF Timing and Strategy
Blackrock, the world’s largest asset manager, became the focus of heightened market chatter this week over whether it will move to file for a spot $XRP exchange-traded fund (ETF). Nate Geraci, president of registered investment advisor Novadius Wealth Management, fueled the speculation by expressing confidence that such a filing will definitely happen.
Following the end of the SEC v Ripple lawsuit, Geraci shared on social media platform X: “I think Blackrock was waiting to see this before filing for Ishares $XRP ETF… I’ll own it if I’m wrong. IMO, makes zero sense for them to ignore crypto assets beyond $BTC & $ETH. Otherwise, they’re basically saying $BTC & $ETH are only ones that will ever have value. Bold.”
A spokesperson for Blackrock addressed the speculation directly, telling The Block on Friday:
At this time, Blackrock does not have any plans to file an $XRP or $SOL ETF.
Following the asset management firm’s clarification, Geraci posted on X: “Blackrock immediately calls me out… Says no plans at this time to launch spot $XRP (or $SOL) ETF. IMO, this will be looked back on as a mistake. We shall see.” However, some still believe that Blackrock will eventually pursue such a product. Lawyer Bill Morgan pointed out: “They were against bitcoin for years until then they suddenly were not.”
Against this backdrop, market observers initially viewed Blackrock as a potential first mover in launching an institutional investment product for $XRP. While its statement tempered some of the immediate hype, supporters argue conditions for such a product are improving. Prediction market platform Polymarket shows strong confidence in a spot $XRP ETF approval, with odds recently fluctuating but reaching as high as 98%, driven by broader momentum in crypto ETF approvals.
Momentum for $XRP has been bolstered by Ripple Labs and the U.S. Securities and Exchange Commission (SEC) withdrawing their appeals in their prolonged legal dispute over $XRP, a move some see as a step toward regulatory clarity. Corporate adoption trends have also strengthened the outlook, with more firms integrating $XRP into treasury strategies.