Why #BlackRock Is Steering Clear of #XRP and #Solana ETFs — For Now

The U.S. altcoin #ETF race is intensifying as asset managers rush to file for products tied to XRP, Solana (SOL), and other major cryptocurrencies. Yet one of the world’s most influential financial institutions — #BlackRock — remains conspicuously absent from the competition.

While firms like ProShares, Grayscale, and Franklin Templeton are actively pursuing approvals for altcoin-based ETFs, BlackRock has made no public move toward launching XRP or Solana funds. This is in stark contrast to its aggressive push into Bitcoin ($BTC ) and Ethereum ($ETH ) ETFs, both of which have become market leaders in the U.S. spot ETF space.

The silence from BlackRock has sparked widespread speculation in crypto and traditional finance circles alike: Why is the biggest asset manager in the world holding back from altcoin ETFs?

BlackRock’s Focus Remains on Bitcoin and Ethereum

BlackRock’s dominance in the ETF space is well-established. Its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (IETH) have captured significant market share since their launches, pulling in billions in assets under management (AUM).

However, according to industry analysts, the company’s client base remains heavily concentrated on BTC and ETH exposure. For institutional and high-net-worth investors — BlackRock’s core clientele — Bitcoin and Ethereum are still viewed as the “blue-chip” digital assets with the highest liquidity, strongest brand recognition, and most regulatory acceptance.

This demand pattern has left little incentive for BlackRock to dilute its ETF lineup with riskier altcoins that may not attract comparable institutional inflows.