BlackRock Rules Out Immediate Plans for XRP and Solana Spot ETFs Despite Ripple’s Legal Win
BlackRock dismisses speculation over spot ETFs for XRP and Solana, despite Ripple’s SEC case ending and growing investor interest.
Following Ripple’s resolution of its nearly five-year dispute with the U.S. Securities and Exchange Commission (SEC), speculation mounted that major Wall Street firms could soon launch spot exchange-traded funds (ETFs) for XRP and Solana (SOL). The case concluded after both parties withdrew appeals and agreed to cover their own legal expenses, prompting hopes for broader institutional crypto products.
BlackRock, however, has confirmed it is not preparing such offerings. A spokesperson told The Block, “At this time, BlackRock does not have any plans to file an XRP or SOL ETF,” putting an end to the latest round of market rumors.
The statement followed comments from Nate Geraci, President of ETF Store, who argued that ignoring non-Bitcoin and non-Ethereum crypto ETFs could signal that only BTC and ETH are viewed as long-term investment-worthy assets. Geraci noted that futures-based XRP and SOL ETFs — launched in March and April 2025 — have already attracted over $1 billion in inflows, suggesting meaningful demand for spot versions if approved.
Meanwhile, other asset managers including ProShares, WisdomTree, 21Shares, Canary, and Bitwise have lodged applications with the SEC for spot XRP ETFs. Bloomberg analysts in June raised the likelihood of spot XRP, Dogecoin, and Cardano ETFs launching before year-end to 90%.
Canada has already taken the lead. In June, 3iQ debuted spot XRP ETFs (XRPQ and XRPQ.U) on the Toronto Stock Exchange, quickly securing about $50 million in assets under management.
Despite the momentum and regulatory clarity around Ripple, BlackRock appears focused on its current crypto ETF lineup, with no immediate expansion to include XRP or Solana,
