Updated Report About BlackRock’s Interest In XRP ETF
Recent reports indicate that BlackRock, the global wealth management leader, does not plan to introduce a new exchange-traded fund (ETF) based on XRP or other altcoins.
The company focuses on its current products rather than exploring new cryptocurrency ETFs.
BlackRock Prioritizes Bitcoin and Ethereum ETFsBloomberg ETF analyst Eric Balchunas recently shared updates, citing Jay Jacobs, the head of BlackRock’s ETF division.
Jacobs clarified that the firm’s immediate focus is on expanding the reach of its Bitcoin and Ethereum spot ETFs, which are still in the early stages of adoption among their client base.
As such, BlackRock has no intention of launching new ETFs for XRP or other altcoins soon.
Chinese cryptocurrency journalist Colin Wu also weighed in, reminding the community of the broader regulatory context in the U.S.
He noted that while the Securities and Exchange Commission (SEC) may approve ETFs for altcoins like XRP and SOL by the end of next year, BlackRock remains committed to its current offerings.
Rumors and Recent Developments
Earlier in November, there were rumors regarding BlackRock’s interest in an XRP ETF after a false filing surfaced.
This filing, labeled as a request to establish an iShares XRP Trust, was quickly debunked by BlackRock, which confirmed it had no association with the document.
In contrast, other asset managers have moved forward with legitimate filings for XRP-focused ETFs. For instance, WisdomTree applied for a spot XRP ETF in late November.
Other firms, such as Bitwise, 21Shares, and Canary Capital, have also filed for XRP ETFs throughout the year, signaling a growing interest in the token as an investment vehicle.
Recent Movements and Market Performance
On the blockchain side, Ripple has been involved in significant transactions. Whale Alert, a prominent cryptocurrency tracker, reported a transaction involving 99 million XRP (approximately $234 million) transferred between two anonymous wallets.
