U.S.-based efforts continue: Dozens of U.S. asset managers — including Grayscale, Franklin Templeton, 21Shares, ProShares, and CoinShares — have filed for or proposed spot XRP ETFs and other XRP-related investment vehicles throughout 2024 and 2025.
According to CoinDesk and others, BlackRock’s hesitation is grounded in a cautious, data-driven, and strategic evaluation:
Coin World also highlighted that BlackRock even ruled out immediate filings for both XRP and Solana ETFs, further emphasizing its narrow focus on Bitcoin and Ethereum.
BlackRock’s decision not to pursue a spot XRP ETF right now stems from client demand patterns, regulatory caution, competitive density, strategic calculation, and market geography.
While the Ripple-SEC case settled opens the door for other entrants, BlackRock is taking a wait-and-see approach rather than jumping in.
