- Mixed rulings on XRP security end the Ripple lawsuit.
- BlackRock shuts XRP or Solana ETF filing at present.
- The XRP ETF competition is still going on as other companies are applying to the SEC.
Ripple’s long SEC lawsuit officially ended this week. The two sides dismissed their appeals and upheld important decisions regarding XRP as either a security or not. Despite this, BlackRock says no XRP ETF is coming yet.
This last ruling gives large companies an opportunity to introduce XRP spot ETFs. However, the largest asset manager in the world, BlackRock, is still quiet about XRP or Solana ETFs. They currently list Bitcoin and Ethereum ETFs only.
Ripple’s Court Triumph: What It Signals for an XRP ETF
According to a New York judge, certain sales of XRP could not be considered securities due to blind-bid procedures. But sales directly to institutions were considered securities. This split decision terminated the case but created a cloud over the possible XRP ETF in the future.
Source – X
Nate Geraci, president of NovaDius Wealth, surmises that BlackRock might have been waiting until the lawsuit is over before submitting an XRP ETF. He criticizes the fact that BlackRock only looks into BTC and ETH ETFs as shortsighted. Geraci has said in X (formerly Twitter) that it makes no sense to ignore other cryptos, and it is an aggressive position.
Despite this, the spokesman for BlackRock issued the following statement: “At this time, there are no plans to file XRP or SOL ETFs.” The company seems cautious despite the regulatory clarity gained.
ETF Race Heats Up Without BlackRock
A number of companies, such as ProShares and Bitwise, have already applied to be XRP ETFs. SEC is considering several applications, and among them are ones that involve altcoins such as Solana and Dogecoin.
Analysts observe that BlackRock had all the time it needed to file. Bloomberg analysts increased the probability of spot XRP and other ETFs based on alternative cryptocurrencies to be approved before the end of the year to 90 percent, although BlackRock still takes a wait-and-see attitude.
Some call the possibility of the BlackRock XRP ETF a dream. At a market capitalization that is less than half that of Ethereum, XRP is not as appealing to large-scale institutional pushes because of its lower market value.
According to the professor of Indiana University, Vivian Fang, such altcoins as Solana, based on the public blockchain, might receive ETF approvals earlier than Ripple XRP, and this indicates the fundamental distinction between BTC/ETH and XRP.
SEC’s Shifting Attitude Suggests Potential ETF Greenlights
Previously, the SEC considered the sale of XRP to be the sale of unregistered securities, but recently, it became more receptive to crypto ETFs. The agency is now reviewing a number of spot XRP ETF proposals as well as SOL and DOGE funds. Regulatory progress signals evolving crypto acceptance.
Nonetheless, the absence of BlackRock demonstrates that large asset managers are also choosy when it comes to launching ETFs. At the moment, it appears they are targeting already existing Bitcoin and Ethereum markets.
