XRP ETF Could Be BlackRock’s Next Move, Says Expert

XRP ETF speculation is heating up as industry veteran Nate Geraci, President of the ETF Store, expressed strong confidence that BlackRock will eventually pursue a spot XRP exchange-traded fund. As one of the most influential voices in the ETF arena, Geraci believes there’s a firm rationale for BlackRock to expand its crypto portfolio beyond Bitcoin and Ethereum.

In recent remarks, Geraci noted BlackRock’s leadership in launching ETFs for Bitcoin and Ethereum and emphasized that the financial giant won’t want to fall behind with emerging digital assets such as XRP and Solana. He also anticipates the development of a crypto index ETF that includes multiple digital assets, broadening access for institutional and retail investors alike.

Notably, Geraci’s outlook is backed by his earlier commentary regarding the Grayscale Digital Large Cap Fund, which includes XRP in its holdings. He suggested that this fund might be the next ETF up for approval, potentially giving XRP a head start before Solana ETFs gain traction.

BlackRock’s Strategic Position Toward Crypto ETFs

Geraci’s confidence in BlackRock’s future filing stems from several pivotal moments this year. In March 2025, he indicated that a formal application could materialize shortly after Ripple’s legal conflict with the SEC reaches a resolution. He explained that asset management powerhouses like BlackRock and Fidelity are unlikely to let others corner the altcoin ETF market, especially with increasing investor demand.

He further pointed to the launch of regulated XRP futures on the CME as a significant development. Geraci sees such moves as a springboard for spot ETF viability, noting that futures contracts often serve as a precursor to eventual ETF approval filings.

Despite mounting speculation, BlackRock has remained publicly silent regarding XRP. The asset manager is currently focused on its existing offerings—namely the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA)—both of which have received favorable market reception.

As of mid-2024, BlackRock’s head of ETF strategy, Samara Cohen, stated that only Bitcoin and Ethereum had met the firm’s standards for maturity and liquidity. Whether that stance has now evolved remains to be seen, particularly as XRP gains legal clarity and its futures market continues to develop.

Regulatory and Industry Movements Around XRP ETFs

Although BlackRock has yet to make its move, other financial institutions are not waiting. Firms including Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton have submitted applications for spot XRP ETFs with the SEC.

Progress has been tentative. The SEC has delayed its decision on the 21Shares ETF proposal until October 2025, following the standard 240-day review framework. Similarly, Grayscale passed a crucial deadline on May 22 without a definitive response from regulators.

More encouraging was the SEC’s action on May 28, when it formally began reviewing the WisdomTree XRP Trust, marking the first U.S.-based XRP ETF application to reach this evaluation stage. The agency invited public feedback on concerns such as market manipulation and investor protections, signaling that thorough regulatory procedures are in motion.

Meanwhile, international markets demonstrate a growing appetite for XRP-based products. Switzerland already hosts the 21Shares AXRP ETP, which is actively trading. Brazil recently gained global attention for launching the world’s first spot XRP ETF, putting additional pressure on U.S. regulators to keep pace with evolving global standards.

Ripple’s Legal Milestone Could Pave Way for ETF Filings

One lingering barrier to accelerated progress in the U.S. is the legal standoff between Ripple and the Securities and Exchange Commission. A court decision is expected shortly, with investors closely monitoring the June 16 timeline. A favorable settlement could significantly enhance the likelihood of Ripple-related financial products receiving regulatory green lights.

Related: Expert Advice: Sell XRP If You’re Confused

For Geraci and other industry observers, BlackRock’s entry into the XRP ETF space seems not a matter of if, but when. As the ETF landscape for crypto evolves, the firm’s decision may hinge on regulatory clarity, futures market development, and competitive pressure from peers already in the race.