BlackRock is planning to launch ETFs for cryptocurrencies Solana and XRP. Significant institutional interest is anticipated for this offering, especially after the legal resolution of the SEC cases.
BlackRock's Plans for Solana and XRP ETFs
Nate Geraci, president of The ETF Store, stated that BlackRock intends to launch ETFs for both Solana and XRP. This move is driven by the company's desire not to miss out on initiatives in ETFs for leading non-stablecoin cryptocurrencies.
Market Potential for Solana and XRP ETFs
Analysts at JPMorgan believe that Solana ETFs could attract $3 to $6 billion within the first 6–12 months, while XRP ETFs could draw $4 to $8 billion. This forecast is based on historical data from ETFs for Bitcoin and Ethereum.
Regulatory Status of XRP and Possible SEC Case Outcome
Despite growing interest in XRP ETFs, its regulatory status remains uncertain. In 2020, the SEC sued Ripple Labs over unregistered securities sales—XRP. Although the court found a violation in institutional sales, the matter of trading on the secondary market is still under discussion. An agreement between the SEC and Ripple is expected to overcome remaining differences.
Amid efforts to achieve regulatory clarity, news about progress in negotiations between the SEC and Ripple emerges. This could lead to a re-assessment of XRP and subsequently impact the successful launch of ETFs for these assets.
