- BlackRock is under growing pressure to join the XRP and Solana ETF race as rival filings surge and altcoin sentiment rises.
- ETF Store President Nate Geraci says it is a matter of when, not if, BlackRock expands beyond Bitcoin and Ethereum.
- XRP gains momentum after CME launches regulated futures, often a key step before a spot ETF filing.
BlackRock is facing mounting pressure to enter the race for XRP and Solana (SOL) ETFs as excitement builds across the crypto investment landscape. According to ETF Store President Nate Geraci, it is no longer a question of if the world’s largest asset manager will step in; it is when. While BlackRock has yet to make any official filings, Geraci suggests the firm is unlikely to let rivals dominate what could be the next major wave in digital asset ETFs.
Geraci believes that BlackRock, having already established leadership in Bitcoin and Ethereum ETFs through its iShares Bitcoin Trust and iShares Ethereum Trust, won’t want to miss the opportunity to extend its dominance into the altcoin ETF space. In particular, XRP appears well-positioned after recent legal clarity and the launch of regulated XRP futures on the CME. Futures contracts, he notes, are often a precursor to spot ETF filings.
Geraci even floated the possibility of converting Grayscale’s Digital Large Cap Fund, which already includes XRP, into a standalone ETF, potentially giving the asset a quicker path to U.S. markets.
The market sentiment also reflects growing optimism. On-chain prediction platform Polymarket currently shows a 90% approval probability for a Solana ETF and 87% for XRP, signaling strong investor expectations.
BlackRock Under Pressure as XRP ETF Filings Surge from Rivals
Bloomberg ETF analyst Eric Balchunas added fuel to the discussion by teasing an “Altcoin ETF Summer,” suggesting that Solana may lead the charge among the next wave of ETF approvals. He cited research from fellow analyst James Seyffart, who recently updated approval odds across a range of crypto ETF products, pointing to rising confidence in both individual altcoin ETFs and broader basket products.
Despite this growing buzz, BlackRock remains focused on its two flagship crypto funds. Last year, the firm’s global head of ETFs, Samara Cohen, said that only Bitcoin and Ethereum met their criteria for liquidity and maturity. Whether XRP’s evolving legal status and expanding derivatives market can change that assessment remains to be seen.
Meanwhile, other asset managers are wasting no time. Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton have all submitted spot XRP ETF proposals. But approval remains elusive, with the SEC extending its review of 21Shares’ filing to October and requesting public comments on WisdomTree’s XRP Trust due to concerns around market manipulation.
Outside the U.S., the story is different. Switzerland’s 21Shares already offers the AXRP ETP, and Brazil has become the first country to approve a spot XRP ETF, highlighting the asset’s growing global institutional appeal.
As competitors advance and optimism swells, all eyes are on BlackRock. Will the ETF giant once again lead the charge, or risk falling behind in what many are calling the next frontier of crypto finance?
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