BlackRock Rules Out XRP and Solana ETF Launches Despite Industry Speculation

10.08.2025 14:19

BlackRock, the world's largest asset manager, has confirmed it has no immediate plans to launch spot exchange-traded funds (ETFs) for XRP or Solana (SOL). This clarification came during the Crypto Prime podcast hosted by Nate Geraci on August 9, 2025, where a company spokesperson explicitly stated: "At this time, BlackRock does not have any plans to file an XRP or SOL ETF."

The announcement follows the recent settlement of the Ripple-SEC legal battle in early August 2025, which had sparked market speculation about potential XRP ETF filings. The lawsuit, initiated in 2020 over $1.3 billion in unregistered XRP sales, concluded after Judge Analisa Torres' 2023 ruling that distinguished between institutional and public exchange sales. Despite XRP's subsequent price surge post-settlement, BlackRock maintains its exclusive focus on existing Bitcoin and Ethereum ETFs.

Industry analysts offered contrasting perspectives: Nate Geraci argued limiting ETFs solely to Bitcoin and Ethereum was illogical, while Bloomberg's James Seyffart countered that the Ripple lawsuit wasn't the primary barrier, noting BlackRock had ample opportunity to file earlier if interested. Alexander Blume, CEO of Two Prime Digital Assets, highlighted XRP's market cap being less than half of Ethereum's as a likely factor in BlackRock's disinterest.

While BlackRock remains sidelined, multiple firms including Franklin Templeton, ProShares, and Bitwise have already filed for XRP ETFs. Similarly, VanEck, Grayscale, and Bitwise submitted Solana ETF applications in mid-2024. Bloomberg analysts previously estimated 90% approval odds for XRP, Cardano, and Dogecoin ETFs by year-end, though Polymarket showed lower confidence in XRP specifically. Indiana University finance professor Vivian Fang suggested Solana ETFs might materialize before XRP due to regulatory considerations.

BlackRock's strategy appears centered on monitoring competitor performance before expanding beyond Bitcoin and Ethereum. Geraci speculated the firm may be allowing rivals to test market demand first, potentially opting for a diversified crypto index product instead of single-asset ETFs. The SEC continues reviewing Solana and Dogecoin ETF proposals from other issuers amid this shifting landscape.