Despite Silence from BlackRock, the Excitement Surrounding an XRP-Backed ETF Is Helping to Buoy the Price of XRP

At the time of writing, XRP is trading at $2.12, marking a 3.5% gain in the past 24 hours. This positive trend signals renewed bullish sentiment.

Despite silence from BlackRock (NYSE:BLK) on an XRP-backed exchange-traded fund, the excitement surrounding such a product is helping buoy the XRP price and overall investor sentiment, especially as the cryptocurrency briefly dipped to $1.60 earlier this month, presenting an interesting buying opportunity for retail and institutional traders.

At the time of press, XRP was trading at around 2.11, up 3.31% in the last 24 hours, according to the XRP Liquid Index (XRPLX) via Brave New Coin. The 24-hour trading volume was a staggering $2.34 billion, showcasing the immense interest in the token.

Several asset managers, including Grayscale, Franklin Templeton (NYSE:FTN), Bitwise, and 21Shares, have filed applications for spot XRP ETFs. However, the crypto community is largely awaiting an announcement from BlackRock, a firm known for its ability to quickly gain approvals for new ETFs.

Having already launched Bitcoin and Ethereum ETFs, BlackRock is yet to file for an XRP ETF, suggesting it may not be a current priority for the asset giant.

But with its iShares Bitcoin Trust (NYSE:BTC) already boasting over $30 billion in assets under management and iShares Ethereum ETF (NYSE:ETH) hitting $1 billion in just 60 days, BlackRock appears to be carefully considering its next move.

“Why add risk when they’re dominating the 2 x most proven crypto assets?” one XRP investor remarked on X, highlighting the asset manager’s calculated approach.

Despite recent optimism following a partial win in the lawsuit with the U.S. Securities and Exchange Commission, the ‘security’ label still seems to be a factor deterring some institutions from engaging with XRP to a greater degree.

BlackRock’s leadership has previously stated that their ETF decisions are driven by strong demand, deep liquidity, and unambiguous legal status—criteria that Bitcoin and Ethereum already fulfill.

The ongoing case between the SEC and Ripple has been a major point of contention for institutional investors. However, recent developments in the lawsuit may open doors for faster XRP adoption.

The SEC and Ripple have filed a joint motion to pause the regulator’s appeal of the lower court ruling that largely favored Ripple in July. This signals that an agreement to settle the case may be in the works.

A potential settlement would allow for a smooth rollout of iShares’ (BLK) Bitcoin ETF, paving the way for BlackRock to expand its crypto ETF portfolio with iShares’ renowned capabilities.

If the court agrees to vacate the judgment that had partially restricted Ripple from selling XRP to institutional investors, the SEC could formally withdraw its appeal. Such a move would significantly bolster Ripple XRP news.

According to Bloomberg ETF analyst James Seyffart, the delay in approving XRP ETFs is part of “standard procedure.” He notes that the final deadlines for a decision on these applications are still in October 2025, which gives the agency time to assess the market.

Seyffart also pointed out that political changes in Washington, such as the potential appointment of Paul Atkins as SEC Chair, could lead to a more crypto-friendly regulatory environment, potentially impacting the agency’s stance on new applications.

“The approval of XRP ETFs would be a huge event for the crypto space,” Seyffart added. If the ETFs are approved, it would provide XRP with greater legitimacy, drive up liquidity, and bring in capital from institutional investors who are traditionally hesitant about direct crypto exposure.”

While the ETF chatter is heating up, Ripple is also making moves to expand its blockchain footprint.

Recently, Hidden Road, the prime brokerage firm that is being acquired by Block II for $1.25 billion, will see the integration of Ripple ledger technology as part of a broader plan to enhance settlement services.

Moreover, the upcoming launch of RLUSD, a U.S.-backed stablecoin from Ripple, will see deployment across Ripple’s crypto and financial platforms. This move is expected to amplify XRP’s value and utility within cross-border payment ecosystems.

As the legal and financial pieces continue to fall into place, the coming months will be pivotal for both Ripple and cryptocurrency investors.

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