BlackRock, the World's Largest Asset Manager, Excludes XRP from Potential ETF, Reports Say

XRP May Not Receive Spot ETF from BlackRock

BlackRock has no plans to launch a spot exchange-traded fund (ETF) offering investors exposure to the native token of the XRP Ledger, XRP.

Firm Won’t Launch Spot XRP ETF

Sources with direct knowledge of the matter have revealed that BlackRock doesn’t plan on launching a spot XRP ETF, following CEO Larry Fink’s comments.

Rumors Fueled by Comments on XRP ETF

Larry Fink’s comments on potentially launching an XRP ETF fueled speculation, but BlackRock is not looking to do so according to sources close to the situation.

BlackRock’s Focus on Other Cryptocurrencies

While the firm has also filed an application for a spot Ether exchange-traded fund (ETF), called the iShares Ethereum Trust, it has not revealed possible plans for a spot XRP ETF.

Ripple Reaches New Milestones

XRP recently surpassed the 5 million mark in terms of the number of wallets on the network, indicating growing adoption of the cryptocurrency.

XRP Transactions Surge in 2024

Recently, XRP transactions have surged, staying consistently over 5 million since the start of the year, further indicating growing adoption of the cryptocurrency.

Ripple’s Legal Victories Affecting XRP’s Price

A cryptocurrency analyst has suggested that the price of XRP could potentially climb to $27 per token following Ripple’s legal victories over the U.S. Securities and Exchange Commission (SEC).

Details of Ripple’s Legal Case

Ripple faced a lawsuit from the SEC for supposedly breaching U.S. securities regulations by selling XRP without first registering with the agency, resulting in a determination that XRP was a security when Ripple initially sold it to institutional investors.