BlackRock Dismisses ETF Speculation for XRP and Solana
BlackRock has poured cold water on speculation that it could soon file for exchange-traded funds (ETFs) tied to XRP or Solana (SOL), saying it has no such plans at the moment. The statement, given to The Block by an unnamed company representative, read: “BlackRock currently has no plans to file for an XRP or SOL ETF.”
The clarification comes amid heightened interest in cryptocurrency ETFs following the successful launch of spot Bitcoin ETFs earlier this year and the ongoing push for Ethereum-based products. Many investors had hoped the world’s largest asset manager might expand into other major tokens.
BlackRock made a strong debut in the digital asset space with its spot Bitcoin ETF, approved in January 2024, before joining the race for Ethereum ETFs. That track record had fueled speculation that other top-tier cryptocurrencies could be next in line.
The company’s remarks, however, signal that such moves are unlikely in the near term. Market reaction was muted, with neither XRP nor SOL showing a negative price impact. Still, analysts say the denial has likely cooled short-term speculative bets on the two tokens.
While BlackRock has ruled out XRP or SOL ETFs for now, some market watchers believe the firm could revisit the idea if market conditions shift in the future.
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