BlackRock plans to enter the XRP ETF race following Ripple's settlement with the U.S. Securities and Exchange Commission (SEC).
BlackRock's ETF Plans
BlackRock intends to file an application for an XRP-based ETF once Ripple resolves its prolonged litigation with the SEC. According to Nate Geraci, this move suggests BlackRock's possible interest in countering competitors in launching similar financial products.
Franklin Templeton and XRP ETF
Last week, Franklin Templeton submitted an application for an XRP ETF, managing assets worth $1.5 trillion. This step highlights growing interest from major asset managers in crypto-based ETFs.
BlackRock's Approach to Crypto ETFs
BlackRock executives suggest potential expansion of its crypto ETF lineup in the future. The company currently focuses on maintaining and expanding its Bitcoin and Ethereum ETFs while rising institutional interest in altcoin products drives the firm towards new initiatives.
The actions and plans of companies like BlackRock and Franklin Templeton indicate growing institutional interest in crypto ETFs, which may significantly impact the market.
