BlackRock Prioritizes Bitcoin and Ethereum ETFs, No Plans to Introduce XRP or Other Altcoin Products

Recent reports indicate that BlackRock, the global wealth management leader, does not plan to introduce a new exchange-traded fund (ETF) based on XRP

BlackRock, the global wealth management giant, is reportedly not planning to introduce any new exchange-traded funds (ETFs) based on XRP or other altcoins. Instead, the company is focusing on expanding the reach of its current Bitcoin and Ethereum spot ETFs.

Bloomberg ETF analyst Eric Balchunas recently shared the latest updates, citing Jacobs. As the head of BlackRock’s ETF division, Jacobs noted that the firm is prioritizing the rollout of its Bitcoin and Ethereum ETFs, which are still in the early stages of adoption among their client base. Hence, there are no immediate plans to launch new ETFs for XRP or other altcoins.

Chinese cryptocurrency journalist Colin Wu also chimed in, reminding the community of the broader regulatory context in the U.S. He highlighted that while the Securities and Exchange Commission (SEC) may approve ETFs for altcoins like XRP and SOL by the end of next year, BlackRock will likely maintain its focus on its current offerings.

Earlier in November, rumors spread regarding BlackRock’s interest in an XRP ETF after a false filing surfaced. This filing, labeled as a request to establish an iShares XRP Trust, was quickly debunked by BlackRock, which confirmed it had no association with the document.

In contrast, other asset managers have filed to launch XRP-focused ETFs. For example, WisdomTree applied for a spot XRP ETF in late November.

Other firms, such as 21Shares, Bitwise, and Canary Capital, among others, have also filed for XRP ETFs throughout the year, signalling a growing interest in the token as an investment vehicle.

On the blockchain, large XRP transactions have been making headlines. Prominent cryptocurrency tracker Whale Alert reported a transaction involving 99 million XRP (approximately $234 million) moved between two anonymous wallets.

According to Bithomp, the sender of this transaction was a wallet linked to Ripple, while the recipient was the U.S.-based BitGo platform, which provides custodial services to financial institutions.

These movements follow two earlier transactions reported by Bithomp, in which Ripple transferred 380 million XRP and 200 million XRP—valued at a combined $1.5 billion in fiat.

As these developments unfold, the token has shown resilience in the market. Over the past week, its value increased by approximately 2.8%, and the token is currently trading at $2.49.

While regulatory developments could pave the way for ETFs in the future, BlackRock’s decision to focus on Bitcoin and Ethereum reflects its current strategic priorities. At the same time, significant whale activity and Ripple’s involvement in large transactions suggest continued interest in the asset, which could influence its future adoption and market performance.