Recent reports indicate that BlackRock, the global wealth management leader, does not plan to introduce a new exchange-traded fund (ETF) based on XRP or other altcoins. The company focuses on its current products rather than exploring new cryptocurrency ETFs. BlackRock Prioritizes Bitcoin and Ethereum ETFs Bloomberg ETF analyst Eric Balchunas recently shared updates, citing Jay Jacobs, the head of BlackRock’s ETF division. Jacobs clarified that the firm’s immediate focus is on expanding the reach of its Bitcoin and Ethereum spot ETFs, which are still in the early stages of adoption among their client base. As such, BlackRock has no intention of launching new ETFs for XRP or other altcoins soon. Chinese cryptocurrency journalist Colin Wu also weighed in , reminding the community of the broader regulatory context in the U.S. He noted that while the Securities and Exchange Commission (SEC) may approve ETFs for altcoins like XRP and SOL by the end of next year, BlackRock remains committed to its current offerings. Rumors and Recent Developments Earlier in November, there were rumors 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 moved forward with legitimate filings for XRP-focused ETFs. For instance, WisdomTree applied for a spot XRP ETF in late November. Other firms, such as Bitwise, 21Shares, and Canary Capital, have also filed for XRP ETFs throughout the year, signaling a growing interest in the token as an investment vehicle. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Recent Movements and Market Performance On the blockchain side, Ripple has been involved in significant transactions. Whale Alert, a prominent cryptocurrency tracker, reported a transaction involving 99 million XRP (approximately $234 million) transferred between two anonymous wallets. Data from Bithomp revealed that the sender of this transaction was a wallet associated with Ripple, while the recipient was the U.S.-based BitGo platform, known for providing 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. Despite these transfers, the token has shown resilience in the market. Over the past week, its value has 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. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Updated Report About BlackRock’s Interest In XRP ETF appeared first on Times Tabloid .
