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BlackRock Dismisses XRP ETF Rumors: What’s Really Going On?
BlackRock Dismisses XRP ETF Rumors: What’s Really Going On?
The cryptocurrency space was abuzz recently with speculation about BlackRock’s plans to launch an XRP-based exchange-traded fund (#ETF ). However, the asset management giant has categorically denied these rumors, reaffirming its commitment to #Bitcoin and Ethereum ETFs as its core focus. Here's a detailed breakdown of the situation and what it means for the crypto landscape.
No #XRP ETF from BlackRock (For Now)
Reports on X (formerly known as Twitter) suggested that BlackRock was considering expanding its crypto ETF offerings to include XRP. However, these rumors were swiftly debunked. Chinese cryptocurrency journalist Colin Wu cited Bloomberg ETF analyst Eric Balchunas and shared a statement from Jay Jacobs, BlackRock’s head of ETFs.
Jacobs clarified that the company’s priority remains its Bitcoin and Ethereum ETFs, which are still in the early stages of adoption among their client base. Expanding these offerings to a broader audience is the immediate goal, leaving no room for the launch of altcoin-based ETFs at this time.
> "Bitcoin and Ethereum ETFs have only reached a fraction of our customers. Our current focus is on increasing their coverage, not on introducing new altcoin ETFs," said Jacobs.
Rumors and Reality: The False XRP Filing
The recent buzz around an XRP ETF was fueled by a fake filing attributed to BlackRock. This alleged filing with the U.S. Securities and Exchange Commission (SEC) requested approval for an iShares XRP Trust. However, BlackRock promptly refuted the filing as a hoax, reiterating its disinterest in pursuing an XRP ETF for now.
Interestingly, other asset management firms are actively exploring XRP ETFs. WisdomTree recently submitted a genuine filing for a spot XRP ETF. Similarly, Bitwise, 21Shares, and Canary Capital have made strides in this area, signaling growing interest in #altcoin ETFs despite regulatory hurdles.
The SEC is expected to make critical decisions regarding altcoin ETFs, including XRP and #SOL , by the end of 2025. This timeline keeps the door open for future developments in this space.
Ripple on the Move: Whale Transfers Highlight XRP Activity
In parallel with the ETF speculation, the XRP ledger witnessed significant whale activity. According to Whale Alert, a massive transfer of 99 million XRP (worth approximately $234.4 million) took place between two unidentified wallets.
Further analysis by Bithomp revealed that the source wallet was linked to Ripple, the blockchain company behind XRP. The destination wallet belonged to BitGo, a U.S.-based custodial platform catering to financial institutions.
This wasn’t an isolated event. The day before, Ripple executed two enormous transactions totaling 580 million XRP (valued at $1.5 billion). These movements underscore Ripple’s ongoing efforts to manage liquidity and bolster its ecosystem.
XRP Price Rally
Amid the ETF chatter and whale activity, XRP’s market performance has been remarkable. Over the past week, XRP has surged by approximately 22.8%, currently trading at $2.36. This uptick reflects growing investor confidence in XRP despite regulatory uncertainties and the absence of a BlackRock ETF.
What’s Next for XRP and Altcoin ETFs?
While BlackRock’s focus remains on Bitcoin and Ethereum, the broader crypto industry continues to explore altcoin ETFs. Regulatory clarity from the SEC in 2025 will play a pivotal role in shaping the future of XRP-based financial products.
Ripple’s recent high-value transactions suggest the company is gearing up for something significant, possibly related to its ongoing legal battles or new strategic initiatives. For XRP enthusiasts, the current momentum in price and network activity could signal exciting times ahead.
Conclusion
BlackRock’s decision to shelve XRP ETF plans might disappoint some investors, but it also highlights the cautious approach of major players in navigating the regulatory landscape. Meanwhile, Ripple’s whale movements and XRP’s price rally indicate that the altcoin is far from losing its shine.
As the crypto market evolves, all eyes remain on the SEC’s upcoming rulings and the broader adoption of crypto ETFs. Stay tuned for updates as the story unfolds.
$XRP
$SOL
$ETH
The cryptocurrency space was abuzz recently with speculation about BlackRock’s plans to launch an XRP-based exchange-traded fund (#ETF ). However, the asset management giant has categorically denied these rumors, reaffirming its commitment to #Bitcoin and Ethereum ETFs as its core focus. Here's a detailed breakdown of the situation and what it means for the crypto landscape.
No #XRP ETF from BlackRock (For Now)
Reports on X (formerly known as Twitter) suggested that BlackRock was considering expanding its crypto ETF offerings to include XRP. However, these rumors were swiftly debunked. Chinese cryptocurrency journalist Colin Wu cited Bloomberg ETF analyst Eric Balchunas and shared a statement from Jay Jacobs, BlackRock’s head of ETFs.
Jacobs clarified that the company’s priority remains its Bitcoin and Ethereum ETFs, which are still in the early stages of adoption among their client base. Expanding these offerings to a broader audience is the immediate goal, leaving no room for the launch of altcoin-based ETFs at this time.
> "Bitcoin and Ethereum ETFs have only reached a fraction of our customers. Our current focus is on increasing their coverage, not on introducing new altcoin ETFs," said Jacobs.
Rumors and Reality: The False XRP Filing
The recent buzz around an XRP ETF was fueled by a fake filing attributed to BlackRock. This alleged filing with the U.S. Securities and Exchange Commission (SEC) requested approval for an iShares XRP Trust. However, BlackRock promptly refuted the filing as a hoax, reiterating its disinterest in pursuing an XRP ETF for now.
Interestingly, other asset management firms are actively exploring XRP ETFs. WisdomTree recently submitted a genuine filing for a spot XRP ETF. Similarly, Bitwise, 21Shares, and Canary Capital have made strides in this area, signaling growing interest in #altcoin ETFs despite regulatory hurdles.
The SEC is expected to make critical decisions regarding altcoin ETFs, including XRP and #SOL , by the end of 2025. This timeline keeps the door open for future developments in this space.
Ripple on the Move: Whale Transfers Highlight XRP Activity
In parallel with the ETF speculation, the XRP ledger witnessed significant whale activity. According to Whale Alert, a massive transfer of 99 million XRP (worth approximately $234.4 million) took place between two unidentified wallets.
Further analysis by Bithomp revealed that the source wallet was linked to Ripple, the blockchain company behind XRP. The destination wallet belonged to BitGo, a U.S.-based custodial platform catering to financial institutions.
This wasn’t an isolated event. The day before, Ripple executed two enormous transactions totaling 580 million XRP (valued at $1.5 billion). These movements underscore Ripple’s ongoing efforts to manage liquidity and bolster its ecosystem.
XRP Price Rally
Amid the ETF chatter and whale activity, XRP’s market performance has been remarkable. Over the past week, XRP has surged by approximately 22.8%, currently trading at $2.36. This uptick reflects growing investor confidence in XRP despite regulatory uncertainties and the absence of a BlackRock ETF.
What’s Next for XRP and Altcoin ETFs?
While BlackRock’s focus remains on Bitcoin and Ethereum, the broader crypto industry continues to explore altcoin ETFs. Regulatory clarity from the SEC in 2025 will play a pivotal role in shaping the future of XRP-based financial products.
Ripple’s recent high-value transactions suggest the company is gearing up for something significant, possibly related to its ongoing legal battles or new strategic initiatives. For XRP enthusiasts, the current momentum in price and network activity could signal exciting times ahead.
Conclusion
BlackRock’s decision to shelve XRP ETF plans might disappoint some investors, but it also highlights the cautious approach of major players in navigating the regulatory landscape. Meanwhile, Ripple’s whale movements and XRP’s price rally indicate that the altcoin is far from losing its shine.
As the crypto market evolves, all eyes remain on the SEC’s upcoming rulings and the broader adoption of crypto ETFs. Stay tuned for updates as the story unfolds.
$XRP
$SOL
$ETH
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