Nate Geraci, President of NovaDius Wealth Management, is doubling down on his belief that $10 trillion investment giant BlackRock will eventually file for both XRP and Solana (SOL) exchange-traded funds (ETFs).
According to Geraci, it wouldn’t make sense for a financial powerhouse like BlackRock to ignore two of the top five non-stablecoin cryptocurrencies by market cap. As per CoinGecko, XRP is currently valued at $173.4 billion, while Solana sits at $90.3 billion.
Franklin Templeton, with $1.53 trillion in assets under management, is currently leading the charge by entering the XRP ETF race. Meanwhile, Fidelity Investments, managing $6 trillion in assets, filed for a Solana ETF back in March.
Only Two Winners?
Geraci argues that if BlackRock doesn’t move forward with XRP and SOL ETFs, it would essentially be signaling to the market that there are only two real winners in crypto—Bitcoin and Ethereum.
“If they truly believe that, then great. I suspect they don’t,” he said.
Last year, BlackRock’s CIO Samara Cohen publicly stated that the company wasn’t interested in altcoins beyond Ethereum, reinforcing the firm’s cautious approach to crypto.
All Eyes on the SEC
Back in March, Geraci predicted that BlackRock would wait for Ripple’s legal battle with the SEC to conclude before filing for an XRP ETF. That case saw a major shift recently when Ripple decided to drop its cross-appeal after Judge Analisa Torres refused to amend the final judgment issued in August 2024.
Still, attorney Bill Morgan noted that the SEC has yet to withdraw its appeal—even though the case seems close to its conclusion. The SEC must submit its next update to the Second Circuit Court of Appeals by mid-August, and many are watching closely to see $XRP
what happens next.$SOL