Why the BlackRock XRP ETF Might Not Be What Investors Hoped For
Mustafa Mulla12 May 20252 min read
BlackRock, the biggest asset manager in the world with over $11.6 trillion, now wants an XRP ETF. At first, this might sound like great news for XRP supporters. Vandell Aljarrah, the Co-founder of Black Swan Capitalist, says this move isn’t really about helping people use or invest in XRP. He believes it’s more about control and making money for big financial players.
BlackRock’s XRP ETF: Profit Over Access
Till now, nine giant firms have filed for an XRP ETF, including Bitwise, 21Shares, Grayscale Volatility, and many more, though giants like BlackRock have yet to join the race.
Meanwhile, Vandell Aljarrah said that for those hoping that BlackRock’s XRP ETF would open the floodgates to widespread crypto adoption, the reality might be disappointing. He says that BlackRock may not have good intentions.
He believes this move isn’t about giving everyone fair access to XRP or helping investors use its full power. Instead, it’s more about control and profits.
Limited Utility with an XRP ETF
The Co-founder breaks it down simply, holding native XRP directly, you get more than just a price exposure. You can use it for remittances, liquidity provisioning, staking, smart contracts, and even hold and transfer it on your terms.
However, with an ETF, these real-world uses of XRP are completely off-limits. You can’t move it, hold it yourself, or do anything meaningful on the blockchain. It becomes a price-watching game, not real participation.
XRP ETF Approval Odds Surge to 81%
After news broke that BlackRock might be eyeing an XRP ETF, bettors on Polymarket are feeling bullish. The chances of an XRP ETF getting approved by the end of 2025 have now jumped to 81%.
Just a short while ago, those odds were sitting at 77%, showing how quickly sentiment is shifting. And when it comes to a possible approval before July 31, things are more divided. About 44% of bettors think it could happen by then, while the rest believe it may take longer.
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FAQs
- There’s no confirmed report that BlackRock directly holds XRP, only interest in a possible XRP ETF.
