BlackRock Debunks XRP ETF Rumors, Wants to Stay Focused on Bitcoin and Ethereum ETFs

Amid growing speculation about BlackRock launching an XRP ETF, the asset manager clarified its stance. Jay Jacobs, BlackRock's Head of ETFs, addressed the rumors

BlackRock has no “immediate plans” for an XRP ETF, according to the firm’s Head of ETFs, Jay Jacobs.

The asset manager’s response comes amid growing speculation about BlackRock launching an XRP ETF following several filings by other asset managers. Canary Capital, Bitwise, WisdomTree, and 21Shares have already filed for XRP ETFs with the U.S. Securities and Exchange Commission (SEC).

However, BlackRock, the world’s largest asset manager, is yet to make any filings for an XRP ETF. Last year, a fake XRP ETF filing appeared on Delaware’s state website, which briefly drove XRP’s price up 15%. BlackRock later debunked the filing.

According to Jacobs, BlackRock is currently focused on its Bitcoin and Ethereum ETFs, which were launched earlier this year. These products have seen impressive inflows of $35.88 billion and $3.19 billion, respectively.

“We're really focused on making sure that we're continuing to service our clients with these products,” Jacobs said, adding that only a small fraction of BlackRock’s clients currently invest in these ETFs.

“So we're really trying to expand the accessibility of these products before we move on to thinking about other types of ETFs, whether that's altcoins or other types of digital assets.”

Meanwhile, XRP enthusiasts continue to hope for the approval of an XRP ETF, with some speculating that the U.S. SEC could approve one considering the recent developments.

President Donald Trump, who is known for his pro-crypto stance, has appointed a new SEC chairman who could play a pivotal role in determining the future of XRP ETFs.

If approved, XRP ETFs could debut as early as late 2025, considering the SEC’s standard 240-day review period for ETF applications.

However, analysts like Bloomberg’s James Seyffart caution that altcoin ETFs face extra hurdles due to the requirement for regulated futures markets overseen by the Commodity Futures Trading Commission (CFTC).