BlackRock, the world’s largest asset manager, has found major success with its Bitcoin and Ethereum ETFs. Its Bitcoin ETF has grown to over $30 billion in assets, while its Ethereum ETF reached $1 billion in just two months. With strong performance from these two leading cryptocurrencies, BlackRock seems in no rush to expand into XRP.
Caution After Legal Troubles
Although Ripple has mostly resolved its legal battle with the SEC, XRP still carries some uncertainty in the eyes of large financial institutions. For companies like BlackRock, legal clarity is essential. Even if the case seems over, the “security” label tied to XRP makes it a riskier option.
Only Bitcoin and Ethereum Make the Cut
BlackRock has said its ETF decisions are based on three main factors: strong demand, high trading volume, and clear legal status. Right now, only Bitcoin and Ethereum meet those standards. XRP is close, but not quite there yet.
Letting Competitors Go First
Instead of being the first to file, BlackRock is watching how other firms like Grayscale and Franklin handle XRP-related products. They want to see how the market and regulators respond before getting involved. This careful approach has worked well for them in the past.
In 2023, a fake XRP ETF filing falsely linked to BlackRock made headlines. The company had to publicly deny any involvement. That incident may have made them more cautious about associating with XRP too soon.
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XRP Still a Small Piece of the Market
Bitcoin and Ethereum make up nearly 70 percent of the total cryptocurrency market. XRP has a much smaller share, which means less liquidity and less interest from big investors. For BlackRock, it’s not enough to launch a new ETF.
Could Things Change in 2025?
Some analysts believe a shift in U.S. politics could bring more crypto-friendly regulations. If that happens, ETFs for coins like XRP and Solana could be approved by the end of 2025. BlackRock may enter the market later, once the rules are clearer and the demand is stronger.
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