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ā”ļøBlackRock rules out XRP and SOL ETFs despite Ripple-SEC case closure
BlackRock has stated it currently has no plans to offer spot ETFs for XRP or Solana.
The asset manager clarified their position amid speculation following Bitcoin and Ethereum ETF launches.
With Ripple closing its long-running legal battle with the SEC, industry analysts anticipate that the resolution will make major fund managers more comfortable offering investment products tied to XRP, Rippleās native crypto asset.
Pro-XRP users, in particular, have been eyeing BlackRock, the asset management giant. But it appears BlackRock has no immediate plans to get on board.
A BlackRock spokesperson recently told The Block that spot XRP and Solana (SOL) ETFs are not on the firmās roadmap for now.
The confirmation came shortly after ETF Store President Nate Geraci suggested that BlackRock would eventually enter the XRP ETF market as Ripple and the SEC wrap up their appeals.
He said itās hard to justify ignoring crypto assets apart from Bitcoin and Ethereum, but if BlackRock really stays away from other crypto ETFs, theyāre essentially stating that only BTC and ETH are worth investing in.
āVery littleā demand for other crypto ETFs: BlackRockās executives
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bert Mitchnick, BlackRockās Head of Digital Assets, revealed at the Bitcoin 2024 convention that there is āvery littleā client demand for crypto ETFs beyond Bitcoin and Ethereum.
Samara Cohen, BlackRockās Chief Investment Officer of ETF and Index Investments, said in an interview with Bloomberg that the firm would not launch a Solana ETF in the near term.