BlackRock Has No Plans to Launch A XRP Spot ETF
BlackRock not launching XRP ETF despite rumors; The firm focuses on Bitcoin, and Ether ETFs.
A rumor about BlackRock launching an XRP ETF was recently circulating due to a comment from Larry Fink, BlackRock’s CEO. But it has recently been confirmed that the world's largest asset manager is not planning to introduce a spot XRP ETF (exchange-traded fund).
The company has already launched a spot Bitcoin ETF and filed for a spot Ether ETF. Named iShares Bitcoin Trust and iShares Ethereum Trust, these funds aim to reflect the prices of Bitcoin and Ether. BlackRock's ETFs, named iShares, are held by Coinbase, a major cryptocurrency exchange.
XRP, the token of the XRP Ledger, has seen significant growth, surpassing 5 million wallets on its network. The cryptocurrency's transactions remain high, and its price has increased by about 65% over the past year.
In 2020, Ripple, the company behind XRP, faced a lawsuit from the SEC for allegedly violating U.S. securities laws. Judge Analise Torres ruled that XRP was a security when sold to institutional investors but not to the general public. An analyst suggests XRP's pricecould potentially rise to $27 per token following Ripple's legal victories.
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