
BlackRock has dismissed launching spot exchange-traded funds (ETFs) for XRP or Solana (SOL) anytime soon.
The position comes despite the growing buzz in the industry and the recent conclusion of Ripple's long legal battle with the SEC (U.S. Securities and Exchange Commission).
Why is BlackRock steering clear of XRP??
Reports indicate that BlackRock has no “plans” to offer spot ETFs for XRP or its potential Solana ETF. The clarification came just hours after ETF Store president Nate Geraci suggested that the asset management giant could eventually enter the XRP ETF market.
Geraci had previously stated that he believed BlackRock was waiting for the end of the Ripple vs. SEC case before applying for the iShares XRP ETF.
Geraci also highlighted the increasing institutional traction of Ethereum, citing Matthew Sigel's view that Bitcoin's dominance has begun to wane as banks, fintechs, and companies adopt stablecoins, many of which will be settled on open-source blockchains like Ethereum.