BlackRock has confirmed that the company is not currently pursuing spot ETFs for Ripple’s XRP or Solana, despite market rumors. While the XRP and SOL communities may be disappointed by the lack of immediate action, the acknowledgment from BlackRock validates their relevance in the broader crypto market.
Crypto Bulls Temper Expectations After BlackRock Clarification
In a recent update from The Block, BlackRock has clarified that the company currently has no plans to file for spot exchange-traded funds (ETFs) tied to Ripple’s XRP or SOL. This aligns with BlackRock’s cautious approach, as reflected in earlier comments from executives like CEO Larry Fink and CIO Samara Cohen. Both have emphasized their focus on Bitcoin and Ethereum ETFs for now.
According to MartyParty, the world’s largest asset manager noted that they are actively exploring assets like SOL and XRP for potential future offerings rather than spot ETFs. However, the industry speculation, fueled by analysts like Nate Geraci, suggests that BlackRock could consider filing for SOL and XRP Ripple spot ETFs by an October 2025 deadline.
This potential move is believed to be driven by mounting competitive pressures in the crypto ETF space and recent regulatory developments. These include the SEC’s approval of in-kind creation and redemption mechanisms, which enhance the efficiency of ETF operations. Furthermore, no official filings have been made yet, and any decision to proceed would likely depend on regulatory clarity.
Ripple’s Victory Marks Major Milestone For Crypto Industry
While the ongoing speculation that BlackRock could consider filing for SOL and XRP, an analyst known as Web3BPP has also revealed that Ripple has officially closed its nearly five-year legal battle with the US Securities and Exchange Commission (SEC).
Web3BPP stated that the court has confirmed that XRP sales on secondary markets are not securities transactions. According to the expert, this news has sent the altcoin’s price up by 11% reaching $3.33, capping off a remarkable 31% monthly gain and an impressive nearly 500% increase over the past year.
Analysts are now setting their sights on $8 short-term price target for XRP, while some long-term forecasts envision prices soaring as high as $1,000 by 2030, due to their belief that BlackRock could consider filing for a spot XRP ETF by October. A move expected to bring in billions of dollars in fresh institutional capital.
The expert also drew attention to Ethereum, which has gained 7% this week, reaching $3,908, driven largely by whale buying and expanding adoption by corporate treasuries. This surge reflects growing confidence in ETH as both a store of value and a strategic asset for businesses.
Market experts are bullish on ETH’s future, with many projecting a price target of $5,000 by the end of the year. This rally is expected to be supported by interest in ETH-based ETFs and upcoming network upgrades designed to enhance performance and security.
