🚨 BlackRock Puts $XRP ETF on Hold, Here's What You Need to Know 🚨
In recent news, BlackRock, one of the world’s biggest wealth management firms, has announced that it has no plans to launch an XRP ETF or any other cryptocurrency-based ETFs in the near future.
📉 No XRP ETF from BlackRock, For Now
Jay Jacobs, head of BlackRock’s ETF department, stated that the company’s main focus is currently on Bitcoin (BTC) and Ethereum (ETH) ETFs.
Despite growing interest in altcoin ETFs, BlackRock is focusing on expanding the coverage for their Bitcoin and Ethereum ETFs, which have reached only a small portion of their potential customer base.
No plans are in place to launch an XRP ETF or any other altcoin ETFs at this time.
🧐 What Happened with the Fake XRP ETF Filing?
There was a fake filing in November claiming BlackRock requested approval for an XRP ETF, which was quickly refuted by the company.
The SEC and U.S. regulators are expected to review other ETFs, such as SOL and XRP, by the end of 2024.
💼 Other Companies Are Still Pushing for XRP ETFs
WisdomTree and other firms, like Bitwise, 21Shares, and Canary Capital, have already filed for spot XRP ETFs, continuing to push for the launch of an XRP ETF.
💸 Massive XRP Transactions by Ripple
In addition to the ETF news, Ripple recently made huge XRP transfers:
99,000,000 XRP worth $234 million was moved between wallets.
Previously, Ripple transferred 380,000,000 XRP and 200,000,000 XRP, totaling about $1.5 billion.
XRP has seen a 22.8% increase in value over the past week, currently trading at $2.36.
🚀 Stay Updated
The crypto world is moving fast, with lots of developments around XRP, ETFs, and Ripple’s actions!
