Could BlackRock Follow Grayscale in Launching an XRP ETF? Heres What to Expect
- Grayscale wants to turn its XRP Trust into an ETF, and people think big companies like BlackRock might do the same.
- BlackRock has already made Bitcoin and Ethereum ETFs, so many believe it could soon make one for XRP.
- XRPs price is going up and down, but with more ETF filings and the Ripple vs. SEC case ending soon, investors are hopeful.
Grayscale has submitted an application for an XRP ETF with the SEC: looking to make its XRP Trust an ETF tracked on the New York Stock Exchange.
Grayscales Move Raises Questions About BlackRocks Next Step
The asset currently worth $16 million is the creation of Judge Analisa Torres decisions in the Ripple vs. SEC case. Grayscales move follows its recent ETF filings for Litecoin, Solana, and Bitcoin miners, showing the companys aggressive expansion in the ETF market. The filing has sparked speculation that other big players, including BlackRock, could soon enter the race for an XRP ETF. FOX journalist Eleanor Terrett added to the discussion by hinting that more applications could be coming soon, though she did not confirm BlackRocks involvement.
BlackRock, a dominant player in the ETF market, has already launched successful Bitcoin and Ethereum spot ETFs, making it a key name to watch. Its Bitcoin ETF, iBIT, has nearly $60 billion in assets, while its Ethereum ETF holds $3.7 billion. Given this, the possibility of a BlackRock XRP ETF has generated excitement in the crypto community. Meanwhile, eight asset managers, including Bitwise, CoinShares, 21Shares, and WisdomTree, have already applied for an XRP ETF, further driving speculation about growing institutional interest in XRP. If BlackRock joins the list, it could significantly strengthen XRPs position in the market and attract more investors.
XRP Price Moves as Investors Watch for ETF Approvals
XRPs price has seen fluctuations amid these developments. It traded at around $3.08 while experiencing a 31% drop in trading volume, reflecting cautious investor sentiment after the US Fed maintained interest rates. Traders are also closely watching upcoming US inflation data, which could influence market trends. Despite the recent slowdown, XRP remains one of the best-performing cryptos in January, gaining over 43%. Analysts suggest that a breakout above $3.55 could push XRP toward $4, while a dip below $2.6 might allow bears to take control. With ETF filings increasing and the Ripple vs. SEC case nearing a conclusion, many investors remain optimistic about XRPs future.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
