BlackRock's Potential Introduction of an XRP Exchange-Traded Fund, Salted with an Expert's Current Forecast
BlackRock, the $10 trillion multinational investment company, has yet to file for XRP and Solana exchange-traded funds (ETFs), but industry experts and analysts widely expect the company to pursue filings for both XRP and Solana ETFs soon after Ripple’s legal battle with the SEC concludes and regulatory clarity is established.
This anticipation is fueled by BlackRock’s presence at Ripple’s Swell 2025 conference in London, an event that has sparked significant speculation about BlackRock’s intentions to file an XRP ETF. Maxwell Stein, BlackRock’s Director of Digital Assets, is scheduled to speak at the conference.
Researcher Anderson and ETF analyst Nate Geraci have predicted and argued that BlackRock will likely expand beyond its existing Bitcoin and Ethereum ETFs to include XRP and Solana, both of which are among the top non-stablecoin crypto assets and fit BlackRock’s broader digital asset strategy.
XRP’s regulatory clarity is advancing rapidly as Ripple and the SEC have withdrawn appeals, paving the way for institutional trust and ETF filings. BlackRock has already referenced the Ripple-SEC case in its Bitcoin ETF filings, indicating close regulatory monitoring.
However, it's worth noting that Geraci has expressed some skepticism about BlackRock's intentions towards XRP and Solana ETFs. He believes that it would not make sense for BlackRock to ignore the two top five non-stablecoin cryptocurrencies by market capitalization, XRP and SOL, each with a combined market capitalization of $273.7 billion (XRP: $173.4 billion, SOL: $90.3 billion).
In contrast, Franklin Templeton, a $1.53 trillion asset management company, has entered the XRP ETF race as the biggest player. Fidelity Investments, a $6 trillion asset manager, has already filed for a Solana ETF in March.
The legal battle between Ripple and the SEC is ongoing, with the case's final judgment set for August 2024. Ripple agreed to drop its cross-appeal against the SEC after District Judge Analisa Torres refused to modify the final judgment in the case that was issued in August 2024.
By mid-August, the SEC will have to report to the Second Circuit Court of Appeals. If BlackRock does not file for XRP and SOL ETFs, it could imply that there will only be two winners in the race for these ETFs, considering the involvement of Franklin Templeton and Fidelity Investments.
[1] U.Today, "BlackRock’s CIO: No Interest in Altcoins Beyond Ethereum", 2024 [3] CoinGecko, "XRP and Solana Market Capitalization", 2025 [4] Coindesk, "BlackRock Denies Filing for XRP ETF", 2025
- The market capitalization of XRP and Solana, respectively, amounts to $173.4 billion and $90.3 billion, making them two of the top non-stablecoin cryptocurrencies by market cap.
- Despite BlackRock expressing no interest in altcoins beyond Ethereum, industry experts and analysts anticipate BlackRock to expand its crypto offerings to include XRP and Solana ETFs.
- BlackRock's presence at Ripple's Swell 2025 conference and Director of Digital Assets Maxwell Stein's scheduled participation have fueled this speculation.
- With regulatory clarity around XRP advancing and BlackRock referencing the Ripple-SEC case in its Bitcoin ETF filings, the stage seems set for potential XRP and Solana ETF filings from BlackRock.
- However, Geraci, an ETF analyst, has expressed some skepticism, arguing that it would be unusual for BlackRock to overlook XRP and Solana, both of which hold significant positions in the crypto market.
