- XRP’s market rally follows Ripple’s SEC legal victory.
- BlackRock currently denies plans for an XRP ETF.
- Speculation remains despite BlackRock’s spokesman denial.
Speculation around BlackRock potentially filing for an XRP ETF surged following Ripple’s legal win against the SEC, although the asset manager states there’s no immediate filing plan.
The event signifies increased regulatory clarity, bolstering market interest, as XRP’s value surged post-verdict amid intensified discussions on future cryptocurrency ETFs.
Ripple’s legal victory against the SEC sparked speculation over a potential XRP ETF by BlackRock, despite the asset manager’s public disavowal. Market anticipation remains high, as evidenced by XRP’s 10% rally post-ruling.
BlackRock has stressed it has no immediate plans to file for an XRP ETF, as affirmed by its spokesperson:
BlackRock has no immediate plans to file for a spot Solana (SOL) or XRP exchange-traded funds (ETFs).
However, speculation persists, particularly following the increased regulatory clarity established by Ripple’s legal success.
The Ripple ruling has raised hopes within the cryptocurrency community of an imminent XRP ETF filing. This anticipation intensified following the asset’s market rally and the perception of an evolving regulatory landscape.
From a financial perspective, the XRP ruling underscores wider implications for potential ETF products. Analysts have put XRP’s ETF approval odds at 88-95%, despite BlackRock’s current stance.
Nate Geraci, President, ETF Store: It makes zero sense for BlackRock to limit its crypto ETF offerings to just Bitcoin and Ethereum.
Institutional speculation continues to grow.
Comparable market reactions have been observed in past ETF developments, such as BlackRock’s Bitcoin ETF launch. Market reactions remain speculative rather than supported by immediate filing actions.
Experts suggest XRP’s case may set regulatory precedents, encouraging further cryptocurrency ETF applications. Nevertheless, industry players like Bitwise and Grayscale currently lead ETF applications pending before the SEC, awaiting possible approvals.
