BlackRock’s Possible XRP ETF: What Is Happening?
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In recent times, BlackRock, the world’s largest asset manager, became the center of attention, as rumors have it that the company might possibly launch a spot XRP exchange-traded fund (ETF). Moreover, Nate Geraci, president of Novadius Wealth Management, in his discussions has suggested that BlackRock might be waiting for the end of the SEC vs. Ripple lawsuit to file for the ETF.
While some experts believe it is just a matter of time, BlackRock quickly clarified that it has no plans to launch an XRP or Solana ETF right now. However, there are still strong beliefs that the company might eventually change its stance.
The Speculation and BlackRock’s Response
The origin of the speculation can be traced back to Geraci’s post on social media, where he stated that BlackRock might be holding off on filing for the ETF until the SEC case was resolved. To this end, he argued that ignoring crypto assets beyond Bitcoin and Ethereum would be a big mistake for BlackRock, implying that those two cryptocurrencies may not be the only ones with value in the future.
However, this post did not go unnoticed; BlackRock responded by denying any plans for an XRP or Solana ETF at the moment. However, despite this, some industry insiders, like lawyer Bill Morgan, remind us that BlackRock once opposed Bitcoin, too, but later entered the space. To this end, many believe BlackRock might eventually create an XRP ETF as the market develops further.
The Growing Support for XRP
Recently, the potential for an XRP ETF has been gaining traction due to positive changes in the market. As it stands, one of the key developments was the end of the legal battle between Ripple Labs and the SEC, with both sides deciding to drop their appeals. As a result, this has brought more clarity and confidence to investors.
Also, the momentum for XRP has been boosted by a growing number of companies using XRP in their treasury strategies. To this end, as these changes continue, the possibility of an XRP ETF seems more realistic, with prediction platforms showing strong confidence in its approval.
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