BlackRock Expected to Enter Solana and XRP ETF Race
BlackRock may soon expand its crypto ETF offerings to include Solana and XRP, according to Nate Geraci, president of The ETF Store.
He speculates that a Solana ETF filing could happen imminently, while an XRP ETF might follow once Ripple’s legal battle with the SEC is resolved. Given BlackRock’s dominance in Bitcoin and Ethereum ETFs, Geraci believes the firm won’t let competitors take the lead on these assets without a challenge.
Despite the speculation, BlackRock has repeatedly stated that it isn’t pursuing additional crypto ETFs. Executives, including CEO Larry Fink and Head of Active ETFs Jay Jacobs, have emphasized their focus on Bitcoin and Ethereum, noting that client adoption of these products is still in its early stages. A rumor in January about an iShares XRP Trust filing turned out to be false, with Bloomberg analyst Eric Balchunas confirming that no such application had been made.
READ MORE: Ripple Secures Landmark License from Dubai Financial Services Authority
The SEC remains hesitant on spot XRP ETFs, having delayed rulings on multiple applications, including Grayscale’s. However, industry observers expect regulatory clarity as Ripple’s case inches toward resolution. The legal dispute, which began in 2020, saw a partial win for Ripple in 2023 when a judge ruled that XRP sales on exchanges weren’t securities transactions. The SEC, under Gary Gensler, pushed to challenge this but later dropped several crypto-related cases after his departure in January 2025, fueling optimism that Ripple’s case could soon be resolved.
Interest in XRP ETFs is growing, with Franklin Templeton recently joining nine other firms in filing applications. Bitwise led the way with a submission in late 2024, followed by 21Shares, WisdomTree, ProShares, and CoinShares. Meanwhile, Solana ETFs are also gaining traction, with filings from Canary Capital, VanEck, and 21Shares now under SEC review. Prediction markets currently place the odds of a Solana ETF approval by mid-2025 at 52%, while XRP’s chances stand at 36%.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
