BlackRock, the global asset management giant dominating the crypto ETF space with its spot Bitcoin (BTC) ETF, has yet to indicate plans for a similar XRP-based product. However, a crypto expert has projected a potential timeline for BlackRock to file for a spot XRP ETF with the U.S. Securities and Exchange Commission (SEC).
BlackRock’s XRP ETF Expected After SEC Lawsuit Conclusion
The XRP Army—a passionate community of XRP supporters—has been vocal about the need for an XRP ETF, especially following regulatory clarity in July 2023. A U.S. court ruled that XRP is not a security in retail sales, though institutional sales were deemed unregistered securities.
Analyst Ashley Prosper recently speculated on X (formerly Twitter) that BlackRock’s announcement could come "within weeks of the Ripple vs. SEC case ending." The lawsuit is currently in the remedies phase, focusing on Ripple’s institutional XRP sales. Prosper predicts a potential settlement by April 2024, paving the way for BlackRock’s ETF filing.
👉 Could an XRP ETF outperform Bitcoin ETFs?
Why an XRP ETF Could Surpass BlackRock’s Bitcoin ETF
BlackRock’s iShares Bitcoin Trust (IBIT) has already attracted $6.6 billion in assets since its January 2024 launch, making it the leading spot BTC ETF. However, some in the XRP community believe a spot XRP ETF could generate even greater demand:
- Regulatory Clarity: Unlike Bitcoin, XRP has a clear non-security status for retail transactions.
- Institutional Interest: A BlackRock-backed XRP ETF could attract massive inflows from investors seeking indirect exposure.
- Market Potential: XRP’s utility in cross-border payments adds long-term value beyond speculative trading.
FAQs
1. When could BlackRock file for an XRP ETF?
Experts suggest it may happen weeks after the Ripple vs. SEC lawsuit concludes, potentially by mid-2024.
2. Why hasn’t BlackRock announced an XRP ETF yet?
The ongoing SEC case creates regulatory uncertainty. Once resolved, BlackRock may move quickly.
3. How would an XRP ETF differ from Bitcoin ETFs?
XRP’s use case in global finance could attract different investors, including those focused on payment solutions rather than pure store-of-value assets.
👉 Discover more about crypto ETFs
Final Thoughts
With regulatory hurdles clearing and institutional interest growing, BlackRock’s potential XRP ETF could unlock billions in investment. Analysts foresee a filing shortly after the SEC case wraps up, positioning XRP for a major market surge. Stay tuned for updates as the crypto ETF landscape evolves.