- BlackRock has no immediate plans to launch an XRP ETF, according to Jay Jacobs, the firm’s Head of ETF Department.
- The firm is focusing on expanding the reach of its Bitcoin and Ethereum ETFs.
- XRP ETF approval may be delayed, with the SEC’s response timeline stretching to the end of 2025.
Amid growing speculation about BlackRock launching an XRP ETF, the asset manager clarified its stance. Jay Jacobs, BlackRock’s Head of ETFs, addressed the rumors, saying the firm has “no immediate plans” for an XRP ETF.
The clamor started after a fake XRP ETF filing appeared on Delaware’s state website last year, briefly driving XRP’s price up 15%.
While BlackRock debunked the filing, speculation around the potential launch of an XRP ETF by the asset manager has persisted. Meanwhile, other asset managers like Canary Capital, Bitwise, WisdomTree, and 21Shares have already filed for XRP ETFs with the SEC.
BlackRock Wants to Stay Focused on Bitcoin and Ethereum ETFs
Despite the ongoing surge of XRP ETF filings by other managers, the BlackRock executive noted that the company is currently focused on its Bitcoin and Ethereum ETFs, which were launched earlier this year.
These products have seen impressive inflows of $35.88 billion and $3.19 billion, respectively. Jacobs pointed out that, while these ETFs performed well, only a small fraction of BlackRock’s clients currently invest in them and so the firm wants to expand accessibility to these products before considering altcoin ETFs like XRP.
XRP ETF Approval Timelines and Market Speculation
In the meantime, XRP enthusiasts continue to hope for the approval of an XRP ETF, with growing speculation that the U.S. SEC could approve one—especially following the reelection of Donald Trump. Trump, known for his pro-crypto stance, has appointed a new SEC chairman who could play a pivotal role in determining the future of XRP ETFs.
If approved, XRP ETFs could debut as early as late 2025, considering the SEC’s standard 240-day review period. However, analysts like Bloomberg’s James Seyffart caution that altcoin ETFs face extra hurdles due to the need for regulated futures markets overseen by the CFTC.
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