BlackRock excludes short-term ETFs on #xrp and #solana , despite Ripple's legal victory
Ripple's recent victory in a prolonged court case with the SEC fueled analysts' expectations that large funds would be more willing to offer investment products related to XRP. However, BlackRock stated that it currently has no plans to launch ETFs on XRP or Solana (SOL).
Earlier, ETF Store President Nate Geraci predicted that BlackRock would enter the XRP ETF market after the court case concludes, asserting that it's hard to ignore crypto assets other than Bitcoin and Ethereum. But Bloomberg analyst Eric Balchunas believes that BlackRock is satisfied with its two existing ETFs (BTC and ETH) and is not seeking expansion.
Robert Mitchnick, head of digital assets at BlackRock, reported that client demand for ETFs other than BTC and ETH is "very small." Samara Cohen, Chief Investment Officer of the ETF and index investment company, also emphasized that BTC and ETH are the only assets that currently meet the company's standards for ETFs, and it will take some time before others can meet those standards.
