According to Nate Geraci, president of The ETF Store, BlackRock, the world's largest asset manager, may soon file for Solana and XRP ETFs.
BlackRock’s ETF Plans
In a recent post, Nate Geraci expressed his belief that BlackRock would soon file for ETFs for the Solana and XRP cryptocurrencies. He suggested that a Solana filing could happen 'any day', while an XRP application is likely dependent on the conclusion of the ongoing legal battle with the US Securities and Exchange Commission (SEC).
Statements from BlackRock's Leadership
Despite the rumors, BlackRock's leadership, including CEO Larry Fink and other top executives, have repeatedly emphasized that they do not plan to extend their crypto ETF offerings beyond Bitcoin and Ethereum in the near future. In December, Jay Jacobs, Head of Active ETFs, told Bloomberg that the firm is focusing on its current crypto investment vehicles.
The Future of Solana and XRP ETFs
Earlier this month, Franklin Templeton filed with the SEC for an XRP ETF. Nine companies have already expressed interest in launching similar products, including Bitwise and ProShares. The SEC has also recognized several applications for Solana ETFs from companies like VanEck and Bitwise. Many analysts believe that the approval of these funds could happen as early as 2025.
While BlackRock has not officially confirmed plans to launch new crypto ETFs, experts believe the firm could become active in this market in the coming years. Given the current market situation and the level of interest in crypto instruments, the launch of Solana and XRP ETFs is a plausible prospect.
