BlackRock XRP ETF Could Be Next As Ripple vs SEC Lawsuit Ends

XRP has been gaining momentum, rising 8% in the past week, as the broader crypto market rallies. Meanwhile, on May 9, BlackRock held a closed-door meeting with the SEC’s task force to discuss staking and options on crypto ETFs, broader implications of tokenizing traditional securities, and general standards for Crypto ETFs. These moves signal a major shift in the crypto space as the regulatory authorities and the financial institutions come together, which could pave the way for more institutional action. BlackRock’s XRP ETF: A Possibility? BlackRock has not shown any signs of launching an XRP ETF yet, as its focus is on Bitcoin and Ethereum ETFs for now. In Late 2024, Jay Jacobs, the head of BlackRock’s ETF division, had mentioned that altcoins like XRP aren’t a priority. However, the latest meeting with the SEC has some wondering if that could change. However, industry experts like Nate Geraci, the President of ETF Store, believe that BlackRock could eventually file for an XRP ETF once the regulatory issues are sorted out. He also pointed out that with XRP being the third-largest non-stablecoin crypto by market cap, major ETF issuers won’t be able to overlook such a key player in the crypto space. Can The Legal Settlement Spark the Move? Analyst Altcoin Gordon recently revealed that the majority of BlackRock’s clients with over $50 million in net worth are showing more interest in crypto. He hinted that some big news regarding XRP is coming soon. However, some users have asked for solid evidence to back these claims. Besides, Ripple and the SEC recently filed for a settlement, which could finally put an end to their long-running legal battle. If that happens, it could boost XRP’s growth and make the chances of BlackRock jumping into the XRP ETF game a lot higher. Other asset managers like Grayscale, Franklin Templeton, and Bitwise have already applied for XRP ETFs. But all eyes are on BlackRock, as its potential XRP ETF could attract huge investments, given its track record in Bitcoin and Ethereum ETFs. According to the Polymarket, a decentralized prediction platform, the chances of an XRP ETF being approved currently stand steady at 77%. Source: https://coinpedia.org/news/blackrock-xrp-etf-could-be-next-as-ripple-vs-sec-lawsuit-ends/