BlackRock XRP ETF Expected Weeks After SEC Battle
A crypto analyst has revealed a timeline for BlackRock, an American multinational investment company, to potentially announce its launch of an XRP Exchange Traded Fund (ETF). The analyst has highlighted key factors that could contribute to the approval of an XRP ETF, including the official resolution of Rippleโs ongoing battle with the United States Securities and Exchange Commission (SEC).
In an X (formerly Twitter) post, crypto analyst Ashley Prosper posed a series of compelling questions about BlackRockโs timing for potentially launching an XRP ETF. Delving into the speculation of whether the financial investment company would launch an ETF before or after the conclusion of the SEC and Ripple court case, Ashley shared his anticipation, predicting that โthe announcement would come within weeks of the court case ending.โ
The analystโs prediction adds an extra layer of anticipation in the already closely watched legal battle between Ripple and the SEC. Earlier in 2020, the US SEC filed a lawsuit against Ripple, accusing the crypto payments company of allegedly violating securities laws by selling XRP in an unregistered security offering.
Despite the backlash and developmental setbacks Ripple experienced due to the lawsuit, the company has been actively defending its position against the SECโs claims. Notably, Ripple gained a partial victory in July 2023 when Judge Analisa Torres ruled that programmatic sales of XRP were not considered securities.
This decisive ruling has led various XRP supporters to believe that a potential XRP ETF would be launched following the resolution of the legal battle. BlackRock currently stands as one of the key contenders speculated to launch an XRP ETF, considering the fact that the investment company had been a leading player in the previous Spot Bitcoin ETF approval race.
XRP ETF Projected To Rival BlackRockโs Bitcoin ETF Inflows
While BlackRock has not made any official statements confirming or dismissing the possibilities of introducing an XRP ETF, a prominent XRP supporter has projected that an XRP ETF could potentially generate more funds for BlackRock than its Spot Bitcoin ETF.
In a recent X post, XRPcryptowolf expressed strong confidence that if BlackRock were to launch an XRP ETF, it could outperform its Spot Bitcoin ETF. As of last week, Spot Bitcoin ETFs saw a record weekly inflows of $2.45 billion, with BlackRockโs iShares Bitcoin ETF (IBIT) leading the charge with about $1.6 billion, according to Coinshares data.
This resounding success in BlackRockโs Bitcoin ETF performance underscores the growing demand for the investment companyโs ETF by institutional investors. Given BlackRockโs prominent position in the Spot Bitcoin ETF market, a potential launch of an XRP ETF could attract substantial inflows, drawing the attention of investors and traders from different regions around the globe.
Hot Take: Potential Launch of BlackRock XRP ETF
A potential launch of a BlackRock XRP Exchange Traded Fund (ETF) has gained attention in the crypto community. With key factors such as the resolution of Rippleโs legal battle with the SEC playing a significant role in the approval process, crypto analyst Ashley Prosper predicts that an announcement from BlackRock could come within weeks after the court case concludes.
If BlackRock were to introduce an XRP ETF, it has the potential to rival the success of its Spot Bitcoin ETF. The recent record inflows in the Spot Bitcoin ETF market highlight the growing demand for these investment products, with BlackRockโs iShares Bitcoin ETF leading the way. An XRP ETF launch could attract substantial investments and draw the attention of investors and traders globally.
Keep an eye on BlackRockโs moves in the coming weeks as the crypto market eagerly awaits any announcements regarding an XRP ETF. The resolution of Rippleโs legal battle could be a crucial turning point in this potential development.
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