Blackrock Xrp Etf Rumors Suspended Dismissed Etf Filing!
The crypto community has been buzzing with speculation about BlackRock, the worlds largest asset management firm, launching an XRP-based exchange-traded fund ETF. However, BlackRock has firmly denied these rumors.
The company reaffirmed that its primary focus remains on Bitcoin and Ethereum ETFs. Despite documents circulating that claimed BlackRock was filing for an XRP ETF, a company representative clarified that these filings were related to Bitcoin and Ethereum ETFs, not XRP. BlackRock stated that it did not submit any filings for an XRP ETF. These false claims briefly boosted XRPs price by 10, but it later settled back to around 0.65.
XRP ETF Rumors Whats the Reality?According to reports on X formerly Twitter, rumors had surfaced about BlackRock potentially launching an XRP ETF. However, BlackRock has since confirmed and denied these speculations. Jay Jacobs, the head of ETFs at BlackRock, emphasized that the company is currently focusing on Bitcoin and Ethereum ETFs. These products are still in the early stages of adoption by BlackRock's clients, and the firms immediate goal is to expand these offerings to a broader audience. As a result, there are no plans to introduce ETFs for altcoins like XRP.
At present, BlackRocks efforts are concentrated on Bitcoin and Ethereum ETFs. Reports indicate that the firm has no plans to focus on altcoin ETFs, including XRP, until it has successfully expanded its existing Bitcoin and Ethereum products.
The rumors about an XRP ETF were largely fueled by a fraudulent filing falsely attributed to BlackRock. The company quickly rejected the filing and reiterated that it has no plans to pursue an XRP ETF.
While BlackRock has distanced itself from XRP ETFs, other firms are still keen to explore this possibility. WisdomTree, for example, has recently filed for its own XRP ETF. Other companies, including Bitwise, Canasy Capital, and 21Shares, are also looking into opportunities in the altcoin ETF space, reflecting growing interest in these products.
The U.S. Securities and Exchange Commission SEC is expected to make significant decisions on altcoin ETFs, including XRP and Solana SOL, by the end of 2025. This timeline suggests that there may still be opportunities for altcoin ETF developments in the future.
In other news, the XRP Ledger recently saw a major transaction involving 99 million XRP, valued at approximately 234.4 million, according to Whale Alert. The transaction occurred between two unidentified wallets, and further analysis revealed that it involved Ripple, the company behind XRP, and BitGo, a U.S.-based custodial platform for financial institutions.
This large transfer indicates that Ripple is taking significant steps forward with the XRP project. For XRP investors, the current price rally is a promising sign for the future. XRP has gained 22.8 in the past week, with its price currently at 2.36. The whale transaction and price surge highlight the growing interest in altcoins.
While BlackRocks decision not to pursue an XRP ETF may be disappointing for some investors, it underscores the importance of a clear regulatory framework in the crypto industry. As the SEC moves forward with its regulations, the future of crypto markets - and projects like XRP - will likely be shaped by these upcoming rules.