Will BlackRock XRP ETF Application Convince US SEC for Approval?
Market analysts speculate that BlackRock, the world’s largest asset manager, could expedite the approval process for a spot XRP exchange-traded fund (ETF) if it decides to file an application. The discussion has gained momentum within the XRP community following recent delays by the U.S. Securities and Exchange Commission (SEC) on ETF filings from Canary Capital and Grayscale.
### SEC Delays XRP and Solana ETF Decisions
On March 11, the SEC postponed its decisions on several crypto ETF proposals, including the Canary and Grayscale spot XRP ETFs. The delay also affected spot Solana ETF applications from Canary, VanEck, and other asset managers.
Legal expert and XRP advocate Bill Morgan suggested that BlackRock could see these setbacks as an opportunity. The delays might allow the financial giant to strategically time its own XRP ETF filing, potentially giving it a competitive advantage in the market. While BlackRock has not indicated any immediate plans to pursue an XRP ETF, analysts remain optimistic that such a move could be on the horizon.
### Franklin Templeton Joins the XRP ETF Race
Despite regulatory hurdles, $1.5 trillion asset manager Franklin Templeton has officially submitted an application for an XRP ETF. According to the filing, Coinbase Custody Trust Company will be responsible for securing the fund’s XRP holdings. This development highlights the growing interest in bringing institutional-grade XRP investment products to market.
With a shift in leadership at the SEC and the new administration in place, optimism around an XRP ETF approval is increasing. However, analysts believe that major asset managers like BlackRock may hold off on filing an application until a settlement is reached in the ongoing Ripple lawsuit. Some experts predict a resolution could come before Ripple submits its appellate brief on April 16, 2025.
Editorial Team
Reporter at Coindoo
