With the SEC’s green light on Bitcoin($BTC ) and Ethereum($ETH ) spot ETFs sparking a new era for crypto investing in 2024, eyes have turned toward the next big contender: $XRP . Yet, while heavyweights like Grayscale, WisdomTree, and Franklin Templeton have thrown their hats into the ring with XRP ETF filings, the biggest name in the room—BlackRock—has remained notably silent.
So, what’s keeping the world’s largest asset manager on the sidelines? According to insights from crypto market analyst All Things XRP, it’s not hesitation—it’s calculation.
Focus First: Bitcoin and Ethereum as the Core Strategy
BlackRock’s success with BTC and ETH ETFs didn’t happen by chance. These two digital assets carry the highest institutional credibility and deepest liquidity in the crypto space. For BlackRock, doubling down on these foundational assets may simply be a matter of optimizing returns while minimizing regulatory and reputational risk.
Regulatory Fog Still Lingers Around XRP
Despite recent developments in the Ripple vs. SEC saga—where both parties have dropped major objections—the case hasn’t fully concluded. The residual uncertainty over XRP’s classification still presents a legal gray area. For BlackRock, which is known for playing it safe and smart, any ambiguity on the compliance front is likely a dealbreaker—for now.
Let Others Test the Waters First
Interestingly, BlackRock’s silence may actually be a strategy in itself. As smaller players like Grayscale and Franklin Templeton move forward with XRP ETF applications, they will be the first to navigate the regulatory landmines. In this view, BlackRock may be waiting patiently, letting others take on the initial risk before entering with a well-timed, refined product.
Reading the Room: Institutional Demand and Timing
Another key angle: BlackRock is likely watching institutional sentiment closely. If demand for an XRP ETF proves strong—and early movers manage to survive the compliance gauntlet—BlackRock can step in with a more competitive and better-optimized offering. It’s a playbook they’ve used before, and one that’s worked remarkably well.
Bottom Line: It’s Not a 'No'—It’s a 'Not Yet'
In the world of high-stakes investing, silence can be strategy. And when it comes to XRP, BlackRock might not be dragging its feet—they may just be waiting for the perfect moment to strike.