Will BlackRock File for an XRP ETF? SEC Delays Spark Speculation
Debashree Patra12 Mar 20253 min read
The XRP community is closely watching as the U.S. SEC continues to delay decisions on XRP ETFs, fueling speculation that BlackRock could eventually step in. While the asset management giant hasn’t made a move yet, analysts believe these delays could work in its favor. With BlackRock’s strong track record in securing ETF approvals, an XRP ETF backed by the firm could have a higher chance of success.
Franklin Templeton Pushes Ahead
Despite the SEC’s hesitation, Franklin Templeton has officially filed for an XRP ETF, with Coinbase Custody Trust Company managing the fund’s XRP holdings. This marks a major step in bringing XRP into traditional finance, showing that institutions still see long-term potential in the asset.
Bloomberg’s Eric Balchunas noted that this is now the 64th altcoin or meme-coin ETF filing awaiting SEC approval, highlighting the growing demand for crypto-based investment products.
SEC Extends Deadlines for XRP and Solana ETFs
The SEC has also postponed decisions on XRP ETF applications from Canary Capital and Grayscale, along with Solana ETF filings from Canary and VanEck. These delays suggest regulators remain hesitant about approving crypto ETFs beyond Bitcoin and Ethereum. However, analysts believe that political changes could eventually shift this stance.
Bloomberg analyst James Seyffart reassured investors that such delays are normal and don’t necessarily lower the chances of approval. The final deadlines for these ETF applications extend until October, leaving time for potential regulatory changes.
Crypto analyst Leigh Dunsford suggests the SEC may be intentionally stalling or simply struggling to keep up with the high number of ETF filings. Eric Balchunas responded, saying he doubts the delays are deliberate but finds it interesting since many of these ETFs are tied to U.S. government-related assets.
BlackRock Waiting for the Right Moment?
Many experts believe BlackRock is waiting for the Ripple lawsuit to be resolved before filing for an XRP ETF. XRP advocate Bill Morgan suggests the firm could see these delays as an opportunity to enter at the perfect time. A settlement between Ripple and the SEC—possibly before Ripple’s appellate brief submission on April 16, 2025—could clear the final hurdle.
If the legal battle is settled, BlackRock and other major institutions could confidently enter the XRP ETF market, increasing the likelihood of approval. Additionally, if a Trump administration returns to power, analysts expect a more crypto-friendly SEC, which could improve the chances for ETFs beyond Bitcoin and Ethereum.
XRP Gains Momentum
XRP has climbed 5% amid growing ETF speculation, with open interest hitting $3 billion. Analyst Mikybull Crypto sees a bullish divergence, signaling a potential rally once market conditions improve. While the SEC remains cautious, rising institutional interest suggests an XRP ETF approval is more a question of “when” than “if” – especially if BlackRock joins the race.
If history has taught us anything, it’s that regulatory delays rarely stop institutional giants from getting what they want.
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FAQs
- The SEC is hesitant to approve crypto ETFs beyond Bitcoin and Ethereum, possibly awaiting regulatory or political changes.
