The idea of a BlackRock XRP ETF has been a hot topic in the crypto world, especially after renowned XRP community commentator Mickle shared predictions about the potential future of Ripple and XRP-related products.
Mickle’s recent XRP predictions gained traction amidst ongoing speculation that BlackRock—the world’s largest asset managers—might eventually enter the XRP ETF space.
However, the excitement around this possibility was fueled by both false reports and strategic silence from BlackRock.
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The XRP rumor mill
The speculation took off after an apparent XRP ETF filing under BlackRock’s name surfaced on the State of Delaware’s website in late 2023.
The document circulated quickly, sparking optimism within the XRP community. However, BlackRock swiftly refuted the claim, clarifying that the filing was fake.
Current BlackRock ETF strategy
BlackRock’s Head of ETFs, Jay Jacobs, confirmed that the company’s focus remains squarely on its existing Bitcoin and Ethereum ETFs.
These products have seen inflows of $35.88 billion (Bitcoin) and $3.19 billion (Ethereum) since their respective launches. However, Jacobs acknowledged that a relatively small portion of BlackRock’s client base currently holds shares in the iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA).
Why no XRP ETF yet?
Jacobs explained that the primary goal is to expand the accessibility of their existing crypto ETFs to more clients. While acknowledging market interest in altcoins like XRP, he stressed that there are ‘no immediate plans’ to introduce ETFs for altcoins due to regulatory complexities and client adoption rates.
Despite BlackRock’s dismissal of XRP ETF rumors, the broader market remains hopeful. Several asset managers, including WisdomTree, Bitwise, Canary Capital, and 21Shares, have officially filed for XRP ETFs, signaling strong institutional interest.
If the SEC approves any of these filings, it could pave the way for a broader acceptance of XRP in traditional finance, potentially putting pressure on larger players like BlackRock to reconsider.
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