Recent social media posts claim that BlackRock is working to secure SEC approval for a spot XRP ETF before July, despite ongoing delays.
Rumors About XRP ETFs
According to crypto influencer Steph, BlackRock is in talks with the SEC regarding the potential approval of an XRP ETF. However, netizens question the validity of this information, as the SEC has repeatedly delayed decisions on such ETFs.
Key Facts from BlackRock's Meeting with SEC
Speculations about XRP ETFs began after BlackRock held a meeting with the SEC’s crypto task force in early May. There, they discussed ETF approval standards and the possibility of launching new crypto ETFs. However, official documents did not mention XRP specifically, and BlackRock remained focused on Bitcoin and Ethereum ETFs, which received approval in early 2024.
Market Outlook for XRP
Despite being the fourth-largest cryptocurrency, XRP's legal issues with the SEC may deter BlackRock from pursuing investments in this asset. Analysts predict that if BlackRock files for an XRP ETF, its price could surge to $10, indicating a 365.6% increase from the current price of $2.17.
Until formal applications for an XRP ETF from BlackRock are filed and the SEC makes any decisions, current rumors remain uncertain and warrant cautious consideration.
