Catenaa, Friday, March 21, 2025 – BlackRock, the world’s largest asset manager, is expected to file for Solana and XRP exchange-traded funds (ETFs) as competition in the crypto investment space intensifies, according to Nate Geraci, president of The ETF Store.
Geraci stated that Solana and XRP, two of the top five non-stablecoin cryptocurrencies, are prime candidates for ETF offerings. However, the timeline for their approval may differ. While a Solana ETF could be filed at any time, an XRP ETF may depend on the resolution of Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC).
The SEC’s lawsuit against Ripple, initiated in 2020, alleges that XRP was sold as an unregistered security. Industry observers suggest that regulatory shifts, potentially influenced by changes in US leadership, could lead to a more favorable environment for crypto ETFs.
Competitors have already moved ahead in launching similar products. Asset managers including 21Shares, VanEck, and Franklin Templeton have filed for Solana ETFs, while Bitwise, WisdomTree, and ProShares have sought approval for XRP ETFs.
BlackRock, which has been a key player in Bitcoin ETFs, may also pursue crypto index ETFs to diversify its offerings. The firm has seen significant outflows from its Bitcoin ETF, reflecting broader investor sentiment.
Recent SEC actions, such as dismissing its lawsuit against Coinbase and closing an investigation into Uniswap Labs, suggest a softening stance on crypto regulation, potentially paving the way for new ETF approvals.
