What is the Global Giant BlackRock Waiting for Regarding the XRP ETF Application? Analyst Responded!

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In 2024, after receiving approval from the SEC for Bitcoin and Ethereum spot ETFs, many altcoin ETF applications were also submitted.

Among these altcoins, it is predicted that major altcoins like Solana (SOL) and XRP have a higher chance of approval, while the conclusion of the SEC-Ripple case has increased speculation regarding the XRP ETF.

While giants like Grayscale, WisdomTree, and Franklin Templeton have applied for an XRP ETF, the world's largest asset management company, BlackRock, is taking a cautious approach regarding XRP.

While BlackRock, which has not filed for an ETF for any altcoin other than Bitcoin and Ethereum, is expected to file for an XRP ETF, an analyst examined why BlackRock has not filed for an XRP ETF.

According to the analyst using the pseudonym All Things XRP, BlackRock's hesitation to launch an XRP ETF stems from various factors such as regulatory concerns, market dynamics, and strategic assessments.

According to the analyst, the reason BlackRock is currently staying away from XRP is simply due to their desire to focus on Bitcoin and Ethereum.

BTC and ETH BlackRock, which has achieved great success in ETFs, is being cautious regarding other altcoins to mitigate potential risks related to its success.

Another reason keeping BlackRock away from XRP is regulatory concerns. According to the analyst, although both Ripple and SEC have withdrawn their appeals in the XRP case, the case is not officially over and the securities risk still persists.

This uncertainty may be preventing the investment giant from filing for an XRP ETF.

The analyst stated that the main reason is BlackRock's preference for a strategic approach regarding XRP. According to the analyst, BlackRock is adopting a cautious approach, anticipating that its competitors, such as Grayscale and Franklin Templeton, will launch their XRP ETFs. These companies will be the first to encounter possible regulatory hurdles, paving the way for BlackRock to easily enter the ETF space afterwards.

According to the analyst, this approach will also allow BlackRock to gauge its institutional appetite for XRP and adjust its risk management.

An analyst noted that BlackRock is known for launching products at the right time, when the odds are in their favor, and argued that BlackRock could launch an XRP ETF after overcoming all possible obstacles.

XRP1.73%
BTC1.25%
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