BlackRock Potentially Proposes XRP and Solana ETFs

Bittime - Global asset management giant, BlackRock, is reportedly preparing to propose an Exchange-Traded Fund (ETF) based on XRP and Solana (SOL). Check out the reasons and their impact on the crypto market in this article, OK?

This speculation arose after a statement from the President of The ETF Store, Nate Geraci. He believes that BlackRock will not let its competitors launch ETFs on the two largest crypto assets outside of stablecoins without a fight.

BlackRock and Big Ambitions in the Crypto Market

BlackRock is currently the leader in Bitcoin and Ethereum ETFs, commanding the largest market share for both assets. 

According to Geraci, the company is likely to file for a Solana ETF in the near future, while an XRP ETF is likely to be filed after the legal dispute between Ripple and the US Securities and Exchange Commission (SEC) comes to a head.

“BlackRock is a leader in Bitcoin and Ethereum ETFs. "I don't see them letting competitors come in and launch ETFs for two of the five largest crypto assets without a fight," Geraci said in his post on the X platform.

Read also: XRP ETF: Latest Developments You Should Know

BlackRock's Stance on Other Crypto ETFs

Even though speculation is growing, until now BlackRock has not provided an official statement regarding plans to launch an XRP or Solana ETF. 

Several BlackRock executives, including CEO Larry Fink and Head of Active ETFs Jay Jacobs, previously stated that the company was still focused on Bitcoin and Ethereum ETFs.

In December 2024, Jay Jacobs revealed in an interview with Bloomberg that the company was still in the exploration stage regarding other crypto assets. 

“We are just getting started with Bitcoin and Ethereum. "Only a small portion of our clients have investments in these ETFs, so our focus is still on those two assets," Jacobs said.

Regulatory Challenges and Impact for XRP ETFs

One of the main factors holding back the launch of an XRP ETF is the ongoing legal dispute between Ripple and the SEC. Since December 2020, the SEC has accused Ripple of selling XRP as an unregistered security. 

However, in July 2023, a court ruled that XRP sales on exchanges do not constitute securities, handing Ripple a partial victory.

However, the SEC under the leadership of former Chairman Gary Gensler still tried to appeal the decision. Since Gensler stepped down in January 2025, several legal cases against crypto companies have begun to be dropped. 

This fuels optimism that Ripple will also soon be free from lawsuits, opening up the opportunity for an XRP ETF to gain regulatory approval.

Other Companies Seek to Apply for XRP and Solana ETFs

Although BlackRock has not confirmed this, several other asset managers have already proposed XRP-based ETFs. Franklin Templeton, one of the major investment firms, has submitted a proposal for an XRP ETF with Coinbase Custody Trust as the custodian of the assets. 

As of March 2025, nine companies have applied for an XRP ETF, including Bitwise, ProShares, 21Shares, and WisdomTree.

On the other hand, the SEC is also starting to consider various Solana ETFs proposed by several companies, including Canary Capital with the Canary Solana Trust, as well as VanEck, 21Shares, and Bitwise. 

Decentralized betting exchange Polymarkets predicts that the chances of ETF approval are Solana before July 31 2025 is 52%, while for XRP it is only 36%.

Read also: Grayscale Files Official XRP and Dogecoin ETF with SEC

FAQ

1. What is a Crypto ETF? 

A crypto ETF (Exchange-Traded Fund) is an investment product that allows investors to gain exposure to crypto assets such as Bitcoin, Ethereum, XRP, and Solana without having to own those assets directly.

2. When are XRP and Solana ETFs likely to be approved? 

There is no exact timetable yet, but many analysts predict that approval could happen in 2025, especially once there is legal clarity regarding XRP and SEC regulations regarding other crypto ETFs.

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Reference 

Cryptopolitan, BlackRock will file for both Solana and XRP ETFs, Nate Geraci, accessed March 17, 2025.

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