BlackRock rules out near-term XRP and Solana ETFs despite Ripple’s legal win

Ripple’s recent victory in its long-standing lawsuit with the SEC has fueled analyst expectations that major funds would be more willing to offer investment products tied to XRP. However, BlackRock has stated it currently has no plans to launch ETFs for XRP or Solana (SOL).

Previously, ETF Store President Nate Geraci predicted that BlackRock would enter the XRP ETF market after the lawsuit ended, arguing it was difficult to ignore crypto assets beyond Bitcoin and Ethereum. But Bloomberg analyst Eric Balchunas believes BlackRock is content with its existing two ETFs (BTC and ETH) and is not eager to expand.

Robert Mitchnick, BlackRock’s Head of Digital Assets, revealed that client demand for ETFs beyond BTC and ETH is “very little.” Samara Cohen, the firm’s Chief Investment Officer for ETF and Index Investments, also emphasized that BTC and ETH are the only assets that currently meet the firm’s standards for an ETF, and it will be some time before any others qualify.