BlackRock Dismisses XRP ETF Idea: Here’s Why, According to Company Executive

• BlackRock has no immediate plans to launch an XRP ETF, according to Jay Jacobs, the firm’s Head of ETF Department.
• The firm is focusing on expanding the reach of its Bitcoin and Ethereum ETFs.
• XRP ETF approval may be delayed, with the SEC’s response timeline stretching to the end of 2025.

Amid growing speculation about BlackRock launching an XRP ETF, the asset manager clarified its stance. Jay Jacobs, BlackRock’s Head of ETFs, addressed the rumors, saying the firm has “no immediate plans” for an XRP ETF.

The clamor started after a fake XRP ETF filing appeared on Delaware’s state website last year, briefly driving XRP’s price up 15%. 

While BlackRock debunked the filing, speculation around the potential launch of an XRP ETF by the asset manager has persisted. Meanwhile, other asset managers like Canary Capital, Bitwise, WisdomTree, and 21Shares have already filed for XRP ETFs with the SEC.

BlackRock Wants to Stay Focused on Bitcoin and Ethereum ETFs

Despite the ongoing surge of XRP ETF filings by other managers, the BlackRock executive noted that the company is currently focused on its Bitcoin and Ethereum ETFs, which were launched earlier t…

The post BlackRock Dismisses XRP ETF Idea: Here’s Why, According to Company Executive appeared first on Coin Edition.