BlackRock Expected to File for Solana and XRP ETFs, Says ETF Store President
Key Takeaways:
- A major asset manager plans ETF filings centered on select crypto tokens.
- Firms are expanding product lines as competition in digital assets grows.
- Regulatory outcomes shape filing timing and investor trust.
- Broader crypto investment options may soon emerge.
On March 14, Nate Geraci, President of The ETF Store, stated that BlackRock, the world’s largest asset manager, is expected to file for Solana and XRP ETFs to stay competitive against other firms launching similar products.
He noted that Solana and XRP rank among the top five non-stablecoin cryptocurrencies, positioning them as strong candidates for ETF offerings.
Given BlackRock’s competitive nature, Geraci believes the firm won’t allow rivals to launch these ETFs without responding.
XRP ETF Filing Likely Hinges on Ripple’s Legal Outcome
In a recent post, Nate Geraci, President of The ETF Store, emphasized that while Solana and XRP ETFs are likely to materialize, their timelines differ.
He noted that a Solana ETF could be filed at any moment, whereas an XRP ETF would likely come only after Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC).
The SEC initiated a lawsuit against Ripple in December 2020, alleging that its sale of XRP constituted unregistered securities transactions.
This prolonged legal dispute has impacted XRP’s price and limited its adoption within the U.S. financial ecosystem.
Some industry analysts suggest that a shift in U.S. leadership could bring more crypto-friendly regulations, which may indirectly affect XRP’s regulatory status.
Recent SEC actions, including case dismissals, indicate a possible softening stance on cryptocurrency regulation, which could impact pending ETF applications.
The agency recently dismissed its lawsuit against Coinbase, which accused the exchange of operating as an unregistered securities platform.
In another move, Uniswap Labs revealed that the regulator closed its investigation without filing charges.
In April, the SEC issued a Wells notice claiming that Uniswap Labs operated as an unregistered broker, operated an exchange, and issued an unregistered security
— Uniswap Labs
As of yesterday, that investigation has officially been closed, and the SEC is taking no enforcement action
This is a…(@Uniswap) February 25, 2025
With the SEC winding down multiple cases, speculation is growing that Ripple could be next.
On March 12, crypto journalist Eleanor Terrett reported that the legal proceedings between Ripple and the SEC are nearing completion.
She indicated that negotiations had been delayed due to Ripple’s efforts to secure better terms concerning a previous court ruling that imposed a $125 million fine and restricted XRP sales to institutional investors.
— Eleanor Terrett (@EleanorTerrett) March 12, 2025
SCOOP: Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon.
My understanding is that the delay in reaching an agreement is due to Ripple's legal team negotiating more favorable terms regarding the August…
Should this matter be resolved soon, industry experts, including Geraci, believe BlackRock will proceed with filings for Solana and XRP ETFs.
Competition Heats Up for Solana and XRP ETFs
Several asset managers have already submitted applications or are preparing to launch Solana and XRP ETFs, intensifying competition in the market.
In June 2024, 21Shares filed an S-1 form with the SEC to introduce a spot Solana ETF in the United States. Around the same time, VanEck also applied for a Solana ETF, aiming to expose investors to Solana’s price movements.
More recently, Franklin Templeton applied for approval to list a Solana ETF via the Chicago Board Options BZX Exchange.
— SolanaFloor (@SolanaFloor) March 12, 2025
Interest in XRP ETFs has also surged. In October 2024, Bitwise submitted a registration statement for a spot XRP ETF, offering direct exposure to Ripple’s native token.
Towards the end of the year, 21Shares and WisdomTree followed suit, filing for their own XRP ETFs in November and December, respectively.
The competition intensified on January 17, 2025, when ProShares joined the race by submitting applications for multiple XRP investment products, including the ProShares XRP ETF.
Geraci anticipates that BlackRock will enter the competition for Solana and XRP ETFs to maintain its market position.
BlackRock Projected to File for Crypto Index ETFs
Geraci’s projections extend beyond individual crypto ETFs. He believes BlackRock will soon file for crypto index ETFs, funds designed to track the performance of a diversified basket of cryptocurrencies.
Crypto index ETFs operate like traditional stock market indices, bundling multiple digital assets into a single investment product—an approach BlackRock may adopt as it expands its crypto offerings.
A major factor that could be driving BlackRock’s interest in crypto index ETFs is the recent outflow from Bitcoin ETFs.
As one of the key players in the Bitcoin ETF market, BlackRock has witnessed major capital flight from these investment products.
On February 25, the U.S. spot Bitcoin ETF market saw net outflows totaling $937 million, pushing weekly losses to nearly $1.5 billion, one of the largest withdrawals since their launch.
Bitcoin ETFs are getting annihilated
— Joey (@joeygcamp) March 14, 2025
After $2.7B in net outflows in ONE WEEK at the end of feb, they've now seen an additional ~$1.5B in outflows.
Someone get Fink back on CNBCpic.twitter.com/cMrHN2ldB7
This trend continues in March. According to data from Farside, Bitcoin ETF outflows have already exceeded $1.4 billion this month, signaling growing uncertainty among investors.
This decline in Bitcoin ETF inflows may push asset managers like BlackRock to explore alternative crypto investment products, including XRP ETFs.
Charting a New Course in Crypto
As BlackRock prepares to expand its suite of offerings with crypto ETFs, the investment terrain is undergoing a quiet yet impactful shift.
The entry of Solana and XRP funds signals a potential realignment in how digital assets are perceived by major market players.
This development invites investors to observe the evolving legal context and its potential to reshape market dynamics.
In doing so, one may find opportunities to recalibrate risk exposure while embracing fresh market data.
The current momentum offers a chance to blend time-tested principles with new market insights for a more informed investment approach.
Frequently Asked Questions (FAQs)
BlackRock’s ETF filing could reshape crypto competition. The step may drive others to broaden their offerings and adjust strategies. This dynamic might lead to diverse digital products and shifts in investor focus.
Legal proceedings impact filing schedules. Uncertainties and court decisions shape how quickly asset managers launch crypto products. The outcome can adjust market readiness and investor trust in digital assets.
New crypto products could follow as asset managers diversify offerings. Market trends may evolve with a blend of traditional investment practices and modern digital asset strategies, altering investor behavior.
The post BlackRock Expected to File for Solana and XRP ETFs, Says ETF Store President appeared first on Cryptonews.
Read More
BlackRock’s Larry Fink abruptly becomes a part of Trump’s inner circle. How’d he get there?
HashKey Group Advances Blockchain in Global Finance
Senator Lummis Reintroduces The Bitcoin Act To Fuel US BTC Reserve
United States Senator Cynthia Lummis has reintroduced The Bitcoin Act, which proposes the government include the asset in its national reserves. This comes after President Trump’s executive order creating a Strategic Bitcoin Reserve last week. In recent months, the United States has set the pace for pro-Bitcoin policies in line with Trump’s vision.
Bitcoin Act Is Back
In a recent X post, Sen Lummis announced the landmark legislation to codify President Trump’s vision for the industry. The President’s executive order was met with enthusiasm from the market as it opened up a new chapter for Bitcoin. However, it leaned towards seized crypto assets. The Bitcoin Act focuses more on large-scale adoption to increase present holdings.
Per the bill, the country will acquire one million BTC over five years as part of its reserve to help fund debt payments. New assets will be added using Federal Remittances, Gold Certificate Revaluations, and the Exchange Stabilization Fund without taxpayer money.
The bill proposes that the Secretary establish a decentralized network to secure holdings across the country to minimize the risk of simultaneous compromise.
“By transforming the President’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy. Together, we are just not adapting to the future, we are actively shaping it, writing the next chapter in America’s proud history of financial innovation…”
The bill was introduced in July 2024 but failed to get bipartisan support. The previous administration was seen as opposed to the crypto industry. Last month, she teased the reintroduction of the bill when she announced her role in Bitcoin For America, slated for March 11.
Pro-Bitcoin Lawmakers Support The Bill
Multiple industry leads also support the bill, as policy watchers highlight its role in global adoption. Congressman Nick Begich explained that a Strategic Bitcoin Reserve ensures the country’s dominance in finance and strengthens economic innovation.
Bitcoin enthusiasts also expressed optimism following the announcement amid a downturn in crypto prices. This year, market analysts projected the reserve to have a massive impact on Bitcoin price and positive crypto regulations. At the time of writing, BTC price stands at $85,029, a 4.4% uptick in the past 24 hours.
Read More
