BlackRock holds back on Ripple’s XRP ETFs

26th April 2025 – (New York) Market observers suggest that BlackRock remains focused on maximizing profits from its Bitcoin and Ethereum ETFs, with little immediate activity expected in the XRP ETF market. While the success of its existing products indicates potential interest in XRP, weaker demand has prompted the firm to hold off for now. Bitwise CIO Matt Hougan notes that although interest in XRP is growing, it has not reached a level that would compel BlackRock to act.

ETF expert Nate Geraci highlights that BlackRock is closely watching regulatory developments, particularly the U.S. SEC’s responses to initial XRP ETF filings. He also points out that competitors like Grayscale and Franklin Templeton appear to be moving more aggressively into the market, but BlackRock’s strategy has always been to wait for sustained interest before entering new territory.

The ongoing legal battle between Ripple and the SEC further complicates the landscape, as the outcome will play a crucial role in determining the approval and acceptance of XRP ETFs. FOX Business correspondent Charles Gasparino emphasizes that BlackRock is unlikely to pursue an XRP ETF until the regulatory uncertainty surrounding Ripple is resolved.

BlackRock’s cautious stance is also influenced by its experience with a fraudulent XRP ETF application in 2023, which caused significant market confusion. Industry analysts believe this incident has made the firm even more careful about its public image and deliberate in its approach.