What Does BlackRock Reveal About XRP ETF Plans?

The recent developments around XRP, such as applications for XRP ETFs, the resignation of SEC Chairman Gary Gensler, and the launch of Ripple’s stablecoin RLUSD, have further fueled speculation ...
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Recent developments around XRP, such as applications for XRP ETFs, the resignation of SEC Chairman Gary Gensler, and the launch of Ripple’s stablecoin RLUSD, have further fueled speculation about an impending XRP ETF. However, BlackRock has no plans to file an ETF application for XRP or other altcoins, according to Jay Jacobs, head of BlackRock’s ETF division.

This revelation has led to a lively debate within the crypto community, as BlackRock – an asset manager with $12 trillion under management – previously played a key role in the approval of spot Bitcoin and Ethereum ETFs.

BlackRock XRP ETF off the table

Jay Jacobs recently debunked rumors that BlackRock would file an application for an XRP ETF. He emphasized that even Bitcoin and Ethereum ETFs have only reached a limited audience and that the company wants to focus on expanding the coverage of these two types of ETFs for the time being.

Jacobs confirmed that BlackRock has no plans for an XRP ETF or other altcoin ETFs. Meanwhile, companies such as Bitwise, Canary Capital, 21Shares, and WisdomTree have filed applications for an XRP ETF, with expectations that approval could follow by the end of 2025.

BlackRock’s statement followed rumors of an impending XRP ETF, partly fueled by positive developments in the crypto industry, such as the resignation of SEC Chairman Gary Gensler and the arrival of a crypto-friendly government under Donald Trump.

Experts remain optimistic about XRP ETF

Although BlackRock is postponing other crypto ETFs for the time being, experts such as Ripple CEO Brad Garlinghouse and Nate Geraci, president of The ETF Store, remain optimistic about an XRP ETF launch.

At the same time, BlackRock’s decision is appreciated by some investors. They see a step-by-step approach as more prudent, as launching a new ETF too early can increase market volatility.

Despite this, recent data suggests that a spot XRP ETF could have a significant impact on the market. Ki Young Ju, CEO of CryptoQuant, pointed out that Coinbase whales are driving the current XRP rally. He stated that the price on Coinbase showed a premium of 3% to 13% over other platforms in the last 30 days.

In addition, Grayscale XRP Trust reports a return of 300% since May. Well-known crypto market figure Ben Armstrong (aka “The BitBoy”) called this a “positive sign” for a possible XRP ETF launch in the US.

XRP price ready for new rally after RLUSD launch

The recent approval of Ripple’s stablecoin RLUSD by the NYDFS has further fueled speculation about an XRP ETF launch. The RLUSD stablecoin will contribute to creating a regulated market for XRP, which in turn could drive up the price of Ripple’s native crypto.

In addition, CME and CF Benchmarks have launched reference values and an index for XRP, which Bloomberg ETF analyst James Seyffart sees as a key catalyst for a possible XRP ETF.

The XRP price has risen by 3% in the last 24 hours and is currently trading at $2.43, with a 24-hour low and high of $2.34 and $2.52 respectively. The crypto has risen more than 400% in recent weeks and is currently consolidating in anticipation of a possible rally towards $5.

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