What BlackRock Reveals About Real XRP ETF Plans?

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As a seasoned researcher with over two decades of experience in the financial markets, I have seen my fair share of market rumors and speculations. However, when it comes to the XRP ETF launch, the situation appears to be quite intriguing.

The ongoing optimistic events such as the filing of XRP ETFs, the resignation of SEC Chair Gary Gensler, and the introduction of RLUSD stablecoin have intensified expectations for an XRP ETF launch. Yet, contrary to these anticipations, Jay Jacobs from BlackRock’s ETF division has announced that the firm currently does not intend to submit an application for an XRP ETF or any other cryptocurrencies.

This event has ignited a significant dispute within the cryptocurrency community, as it was primarily the influential $12 trillion asset manager who drove the approval process for trading Bitcoin and Ethereum via Exchange Traded Funds (ETFs).

BlackRock XPP ETF Plans Off Table

Jay Jacobs, who heads BlackRock’s ETF division, has dismissed recent speculations about the company submitting an application for an XRP ETF. He stated that while Bitcoin and Ethereum ETFs have only reached a limited number of people so far, BlackRock intends to broaden the reach of these two types of ETFs at this time, rather than exploring other options like an XRP ETF.

It’s been confirmed that BlackRock currently has no intentions to submit an application for an Exchange-Traded Fund (ETF) involving XRP or any other alternative cryptocurrencies. Meanwhile, Bitwise, Canary Capital, 21Shares, and WisdomTree have filed applications for an XRP ETF, with anticipation of potential approval by the end of 2025.

Following whispers about a potential XRP exchange-traded fund, BlackRock issued a statement. This was prompted by optimistic trends in the cryptocurrency sector, which have been further fueled by President Donald Trump’s crypto-friendly administration and SEC Chair Gary Gensler’s resignation, both of which have positively influenced public perception.

Rumors are circulating that BlackRock is planning to file for an $XRP ETF application.

If that happens, it will bring a shit ton of liquidity to the crypto market.

— Lark Davis (@TheCryptoLark) December 13, 2024

Experts Believe XRP ETF Launch Is Imminent

Despite BlackRock holding off on more Crypto ETFs for now, figures like Ripple‘s CEO Brad Garlinghouse and The ETF Store’s president Nate Geraci continue to express optimism about their eventual introduction.

On the flip side, BlackRock’s decision has been applauded by some investors. It appears that they prefer a gradual strategy to introducing a new ETF, as rushing into it could potentially increase market volatility.

It appears that a potential launch of an XRP ETF could have a substantial impact on both issuers and the overall crypto market. This is based on recent findings, as CryptoQuant’s founder and CEO, Ki Young Ju, has disclosed that large investors on Coinbase are primarily responsible for the recent surge in XRP prices. In fact, during the past month, the price premium of XRP on Coinbase has fluctuated between 3% and 13%.

Furthermore, it’s worth noting that Grayscale XRP Trust has seen a significant 300% increase since May. Notably, well-known crypto market influencer Ben Armstrong (also known as “The BitBoy”) views this strong return as a promising indication that the launch of an XRP Exchange Traded Fund (ETF) in the United States may be imminent.

XRP Price Ready to Rally After RLUSD Stablecoin Launch

The recent approval of Ripple’s stablecoin RLUSD by NYDFS sparked further speculation on an XRP exchange-traded fund as it will help create a regulated market for XRP. This will also trigger a rally in Ripple’s native crypto price.

The upcoming event that’s generating a lot of buzz is the launch of the RLUSD stablecoin, coinciding with the ongoing Ripple vs SEC lawsuit. Notably, CME and CF Benchmarks have introduced reference rates and indexes for XRP. According to James Seyffart, an analyst at Bloomberg ETF, this development could serve as a significant catalyst towards the potential launch of an XRP Exchange-Traded Fund (ETF).

In the last day, XRP’s value increased by about 3%, now standing at approximately $2.43. Earlier today, it reached as low as $2.34 and peaked at $2.52. Over the past few weeks, XRP has seen a remarkable surge of over 400%. At present, there are signs suggesting that XRP might experience another rally, potentially pushing its price up to around $5.

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2024-12-14 15:34