BlackRock Sets XRP ETF Aside, Here's What's Happening

BlackRock Sets XRP ETF Aside, Here's What's Happening
According to several sources on the X social media platform (widely famous as Twitter in the past), BlackRock wealth management giant does not intend to launch any new ETF based on XRP or on any other cryptocurrency. No XRP ETF from BlackRock coming soon Chinese cryptocurrency journalist Colin Wu has cited Bloomberg ETF analyst Erich Balchunas sharing recent news broken by the head of BlackRock’s ETF department to the financial world and the crypto community. According to Jay Jacobs from the wealth management giant, at the moment, the spot Bitcoin and Ethereum ETFs remain the company’s main focus since these products have reached only a few of their customers. Therefore, BlackRock intends to prioritize the expansion of the coverage of these two ETFs and does not plan so far to launch any new ETFs based on altcoins.

Wu reminded the community that United States regulators, and the SEC in particular, are expected to pass ETFs, like SOL and XRP, by the end of next year. On Nov. 13, a false filing reportedly from BlackRock to the SEC emerged with a request for permission to launch and trade an XRP exchange-traded fund – an iShares XRP Trust. However, BlackRock was quick to refute those rumors and the fake filing made on its behalf. As reported by U.Today, at the end of November, asset manager WisdomTree submitted a real filing for a spot XRP ETF. Aside from that one, several other finance managers have done the same this year – Bitwise, 21Shares and Canary Capital.