In 2024, the US Securities and Exchange Commission (SEC) surprisingly approved the issuance of two crypto-based ETFs. That is expected to change in 2025, with a host of assets subject to filing. Yet, one absent filing has surprised many, with BlackRock not seeking to issue an XRP ETF.
The $11 trillion asset manager was behind the immensely successful iShares Bitcoin Trust (IBIT) that debuted last year. Moreover, it has reinforced that it won’t file for an XRP ETF as long as there are still regulatory concerns. Yet, with a new pro-crypto administration in place, those troubles look to be behind the asset. Will that sway the firm to seek out an exchange-traded fund for the token?
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BlackRock May Be Preparing XRP ETF as SEC Meetings Continue
Over the last year, Bitcoin has been one of the biggest surprises of the finance sector. The leading crypto surged to a six-figure value in November, reaching all-time highs of $109,000. However, it is often overlooked how important the presence of BlackRock’s Bitcoin ETF was, as many had labeled it the greatest launch of its kind ever.
Now, all eyes are on what asset could follow Bitcoin and Ethereum this year. Specifically, many are looking to tokens like Ripple. Surprisingly, BlackRock has yet to file for an XRP ETF and has not indicated any plans to do so. But that doesn’t seem to be aligning with increased rumors signaling that it could be set to change.
Also Read: Global Financial Authority IIF Endorses XRP as Swift Alternative for Payments
According to a recent letter, BlackRock and the SEC had a critical meeting. Specifically, the asset manager met with the Crypto Task Force to discuss its present ETF approval standards. This has led many to ponder if the filing could be on its way for the firm.
If it were to arrive, it would certainly be a game changer. At this point, XRP does deserve the exchange-traded fund and institutional exposure. The crypto recently overtook Tether USDT to become the third-largest cryptocurrency by market cap. Moreover, it looks to be closing in on the $3 mark, with room to gain even more from that. Additionally, its use cases as a top cross-border payment facilitator give it exponential value to investors of all sizes.
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