BlackRock Declines to Launch Spot XRP ETF
BlackRock has no plans to launch a spot XRP ETF, citing insufficient client demand despite several competitors offering similar products.
BlackRock, the world's largest asset manager with $15 trillion in assets, has declined to launch a spot XRP exchange-traded fund. The firm has not filed an application with the United States Securities and Exchange Commission, stating that current client demand for XRP is insufficient to justify a new product.
This decision comes despite the presence of seven spot XRP ETFs from other firms, including Franklin Templeton, Grayscale, 21Shares, and Bitwise. While these existing funds hold $1.77 billion in assets, the total falls significantly short of the $8 billion previously projected by analysts, indicating a lack of institutional momentum for the asset.
The absence of an XRP product contrasts with the success of other crypto offerings from the firm. The iShares Bitcoin Trust currently manages $67 billion, while the iShares Ethereum Trust manages $10 billion.
