Under the new Donald Trump administration, crypto-friendly policies have fueled a surge in ETF filings beyond Bitcoin (BTC) and Ether (ETH). Earlier this week, Franklin Templeton became the largest asset manager to seek approval from the U.S. Securities and Exchange Commission for an exchange-traded fund (ETF) based on the price of XRP, the fourth-largest crypto by market cap. Despite multiple issuers filing with the SEC to launch spot XRP funds, BlackRock, the world’s largest asset manager and Bitcoin and Ether ETF issuer, has avoided the Ripple-promoted token. BlackRock To File For XRP ETF Once Ripple-SEC Lawsuit Is Fully Resolved Notably, BlackRock’s spot BTC and ETH ETFs have both experienced billions in inflows during the last year. BlackRock’s iShares BTC Trust ETF, IBIT, eventually matured enough to surpass its gold ETF in assets under management. ETF Store president Nate Geraci believes the asset management behemoth will only file for an XRP exchange-traded fund (ETF) once the SEC’s four-year-long lawsuit against Ripple is concluded. The prolonged battle since December 2020 over allegations of unregistered XRP sales may be over soon. The July 2023 ruling by District Judge Analisa Torres of the Southern District of New York, declaring XRP a non-security when sold to retail investors, but fining Ripple $125 million for institutional sales marked a turning point. Recent reports indicate the legal spat between the two parties could soon reach a conclusion, with Ripple negotiating better terms as the regulator adopts a more lenient regulatory stance under acting Chair Mark Uyeda . One final issue reportedly being discussed is a comparison between XRP and Ether. At the core is whether XRP continues to trade and have a utility that makes it more of a commodity than a security. Geraci has also predicted that BlackRock’s Solana ETF could be filed with the SEC any day from now. He doesn’t think the $10 trillion asset manager will simply allow rivals to introduce ETFs baked on the XRP and SOL “without any sort of fight.” Meanwhile, Bloomberg’s Senior ETF Analyst Eric Balchunas has previously penciled in a 65% and 70% chance that XRP ETFs and SOL ETFs, respectively, secure a green light this year. However, he did not forecast the timing. Issuers must still contend with regulatory review, lawsuits, and public comment on the pending applications.
Only 10% of Canadians Own Bitcoin
