BlackRock, a leading crypto asset manager, has dashed the hopes of many XRP enthusiasts expecting it to file an XRP Exchange-Traded Fund (ETF). In a recent statement, the company has made its intentions clear. The Fake Filing That Fueled the Hype In a dramatic turn of events last year, the XRP community was electrified when a supposed XRP ETF filing attributed to BlackRock surfaced on the State of Delaware’s website. The news sent XRP’s price soaring by over 13% in a matter of days . However, BlackRock quickly denied the claim, reaffirming that the filing was untrue. Despite this hoax news, the idea of BlackRock entering the XRP ETF market has remained a point of speculation within the crypto community. BlackRock Remain Focus on Bitcoin and Ethereum In a recent interview, Jay Jacobs, BlackRock’s Head of the ETF Department revealed BlackRock’s stance on launching an XRP ETF. Jacobs mentioned that for now BlackRock’s focus remains firmly on its existing crypto ETFs. Earlier this year, the company launched its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Impressively these investment products have achieved massive inflows of $35.88 billion and $3.19 billion, respectively. These numbers shows BlackRock’s dominance in the ETF space and its ability to attract institutional and retail investors alike. Jacobs pointed out that despite the significant success of these ETFs, it is yet to be widely adopted. He noted that only a small percentage of BlackRock’s clients currently hold shares of its Bitcoin and Ethereum ETFs. As a result, the firm’s immediate priority is expanding the accessibility of these products. While Jacobs did not rule out future altcoin ETFs, he made it clear that XRP is not on the company’s current radar. XRP ETF Applications and the SEC: What’s Next? While BlackRock may not be interested in an XRP ETF at the moment, other firms are pushing ahead. Bitwise, Canary Capital, 21Shares , and WisdomTree have all filed applications with the SEC. These firms are hoping to pioneer the first XRP ETF in the United States. The growing anticipation for an approval is fueled by the potential for a pro-crypto shift in the U.S. government. This is particularly after Donald Trump’s reelection and his appointment of a new SEC chairman with a more favorable stance on cryptocurrencies. These developments have fueled speculation that an XRP ETF could be approved as early as next year. However, whether the SEC will give the green light to any of the current XRP ETF proposals remains uncertain. Given the SEC’s previous cautious approach to cryptocurrency-related financial products, the approval process could take longer than anticipated. The XRP community is closely watching how the situation unfolds and whether BlackRock might change its stance to join the XRP ETF race. The post XRP ETF Speculation: BlackRock’s Stance and the Road Ahead appeared first on TheCoinrise.com .
