BlackRock Plans to Introduce Spot XRP and Solana ETFs, Insider Reports
- Insider reports suggest BlackRock is preparing to launch spot ETFs for XRP and Solana as part of its broader crypto expansion strategy.
- XRPs ETF launch depends on the resolution of Ripples legal case with the SEC, while Solanas may come sooner, with multiple spot ETFs expected to roll out through 2025.
- BlackRock is moving beyond Bitcoin and Ethereum ETFs, aiming to lead the market in altcoin ETF releases and capitalize on growing institutional and retail demand.
Andrew Parish alerted crypto fans when he shared that BlackRock would start giving access to spot ETFs for both XRP and Solana soon. Sources close to BlackRock tell Parish that the company will launch both XRP and SOL ETFs as the next part of its ongoing crypto portfolio expansion.
According to the Parishs latest update on X, BlackRock leadership says they aim to bring clients more choices as the crypto market continues growing while acknowledging other institutions may release products first. The company sees crypto assets as a major business opportunity and expects both XRP and Solana to join their future crypto funds someday.
The news about BlackRock has people guessing about its upcoming crypto market plans as major changes appear in crypto rules for XRP and Solana. No members of the firms leadership have stated their opinions about these new claims.
BlackRock to Introduce Solana and XRP ETF
Andrew Parish regularly announces important news about the crypto industry. Two sources from the Securities and Exchange Commission told him in March that the trial between Ripple and the SEC was about to finish. The case may determine whether XRP should be treated as a commodity product and result in a more affordable fine.
Within two days after posting his predictions, Ripple confirmed that the SEC would end their legal actions, which proved Andrew Parishs sources were accurate. The SEC approved decreasing their original penalty of $125 million by cutting it to $50 million to match Parishs forecast.
Since Parish showed accurate insights before the public shared his word this time about BlackRock, many see these statements as credible.
The financial sector supports Parishs prediction because he has stated that BlackRock will offer a spot XRP ETF in the future. Nate Geraci, as the President of The ETF Store, predicts that BlackRock will introduce new crypto products to its products beyond Bitcoin and Ethereum, with XRP and Solana being high on the list. According to Nate Geraci, Solana may appear before XRP despite only needing the legal suit to settle for XRP to move forward.
BlackRock follows Bitcoin and Ethereums success by making this decision with its ETFs. The company plans to control all major altcoin ETF product releases before competitors launch theirs, especially for the top five non-stablecoin digital coins. BlackRock likely will submit new applications to create a lineup of crypto index exchange-traded funds and stay prominent in this industry expansion.
BlackRock Shifts Strategy Toward Crypto ETFs
BlackRock changes direction from its previous position when it comes to crypto investments. July 2024 statements from BlackRock Chief Information Officer Samara Cohen show they will not start selling altcoin products other than Bitcoin and Ethereum for the immediate future. Jay Jacobs told people that BlackRock focused on its present crypto investment products in December 2024.
According to Parishs latest reports, BlackRock seems to be expanding its crypto ETF presence by preparing to launch spot offerings for several alternative coins, including XRP and Solana. Several spot crypto ETFs are expected to launch between 2025s first and fourth quarters, according to Parishs sources, with exact timing showing approval for XRP during early Q2, Solana during late Q2, and other assets including LTC and HBAR receiving approval later throughout the year.
Experts at Parish and other industry organizations expect crypto ETFs to reach important milestones during 2025. Major financial institutions are anticipated to support crypto asset diversity once clear regulations allow the launch of spot ETFs for well-known altcoins. A new opportunity in the crypto market will emerge as institutions and retail investors gain greater access to this expanding investment category.
The present value of XRP stands at $2.04, fueled by rising hopes for crypto ETFs and the potential entry of leading financial firms into the altcoin market.
Read more: https://www.tronweekly.com/blackrock-plans-to-introduce-spot-xrp-and-solan/
Text source: TronWeekly
