The strong entry of BlackRock into the crypto market with its Bitcoin (IBIT) and Ethereum ETFs has sparked speculation that the firm might soon expand into other assets—such as XRP or Solana. However, the answer isn’t so straightforward, according to Robbie Mitchnick, BlackRock’s Global Head of Digital Assets.

Demand Is the Key Factor

In an interview with Nate Geraci, Mitchnick emphasized that the development of new ETF products is primarily driven by investor demand. Before launching a product, BlackRock evaluates whether there is sufficient interest from both retail and institutional investors. Other considerations include market capitalization, liquidity, investment thesis, and long-term portfolio strategies.

“It’s not about rushing to file applications,” Mitchnick explained. “BlackRock takes a thoughtful approach, weighing whether the timing is right and if the asset has strong enough fundamentals.” For now, this means the firm does not plan to immediately pursue ETFs for XRP or Solana, though it continues to monitor the market closely.

Tokenization Still in Its Early Stages

Mitchnick also addressed the future of asset tokenization, noting that the field is still in its early phases and only a handful of asset classes currently have practical use cases. The clearest example, he said, lies in money market funds—their tokenized versions combined with stablecoins allow investors to capture full yields while maintaining instant liquidity.

For other asset classes, however, practical solutions are still lacking. “We need to clearly demonstrate that tokenization solves real-world problems,” he added.

Stablecoins at the Center of Focus

Mitchnick highlighted BlackRock’s long-standing interest in stablecoins. Back in 2021, the firm partnered with Circle to help manage USDC reserves and also made a direct investment. He emphasized that stablecoins play a crucial role in faster settlement and improved liquidity access.

What’s Next?

For now, BlackRock is prioritizing areas with the strongest client demand—Bitcoin, Ethereum, and stablecoins. An XRP ETF remains a possibility, but only if the right market conditions and regulatory clarity align in the future.

#blackRock , #xrp , #etf , #Stablecoins , #Ripple

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