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U.S. Spot XRP ETFs: Five Possible Reasons Behind BlackRock’s Hesitation to File for One

BlackRock’s absence from the crowded spot XRP ETF race could be a reflection of client demand, regulatory caution and a calculated focus on bitcoin and ether

What to know:

BlackRock confirmed Aug. 8 that it has no immediate plans for a U.S. spot XRP ETF, even after the SEC–Ripple settlement.

The asset manager is likely waiting for deeper liquidity and stronger institutional demand before entering.

Multiple spot XRP ETF applications from other issuers are already pending.

BlackRock has made bold moves into bitcoin and ether ETFs, but on Friday, the asset manager said it had no immediate plans to file for a spot XRP exchange-traded fund (ETF), dashing the community’s hopes that its entry could help extend XRP’s 2025 rally.

This statement — made the day after the U.S. Securities and Exchange Commission (SEC) and Ripple Labs jointly asked an appeals court to dismiss their respective appeals, signaling an end to their nearly five-year legal battle — has left investors questioning why BlackRock remains on the sidelines.