🚀 Crypto Billions to Pour Into Ripple’s XRP as Pundit Reveals When $9 Trillion BlackRock Could Likely File for XRP ETF

[SaulBadman]

BlackRock, the enigmatic asset manager currently dominating the crypto ETF world with its recently launched spot Bitcoin (BTC) exchange-traded fund (ETF), has yet to show any clear intentions of launching a similar spot XRP-based product.

However, a crypto expert has shared a timeline for BlackRock to possibly announce the filing of paperwork with the U.S. Securities and Exchange Commission for the formation of a spot XRP ETF.

BlackRock Spot XRP ETF Envisioned Weeks After Conclusion Of SEC Suit​

The XRP Army continues to clamour for a slice of the sweet ETF action amid strong investor interest in the shiny new spot Bitcoin ETFs.

Advocates argue that XRP also deserves a spot market exchange-traded fund, having received regulatory clarity as a non-security in a court ruling in July 2023. At the time, Judge Analisa Torres declared that programmatic sales of XRP to retail investors did not qualify as securities. However, the judge did say that $770 million worth of contracts for XRP institutional sales did constitute unregistered securities sales.

In a recent post on the X (formerly known as Twitter) platform, analyst Ashley Prosper explored the speculation of whether BlackRock, the world’s preeminent asset manager with over $9 trillion in assets under management, would introduce a spot XRP ETF before or after the Ripple vs. SEC case officially concludes. Ashley told her 15,200 followers that she expects the asset manager’s announcement to “come within weeks of the case ending”, echoing sentiments within the crypto community.

The XRP lawsuit is currently in the remedies phase over Ripple’s XRP sales to institutional investors. Previous reports suggested that the San Francisco-based fintech startup aims to reduce potential settlement costs significantly by perhaps arguing that these sales fall outside the SEC’s jurisdiction. Prosper previously contended the protracted courtroom feud could end in a settlement in April 2024.

BlackRock’s XRP ETF To Vastly Outperform Its Bitcoin ETF?​

Although when exactly BlackRock will launch a spot XRP ETF remains an open question, a member of the XRP community is predicting that an XRP-based product would attract more inflows than the behemoth’s iShares Bitcoin Trust (IBIT) ETF.

IBIT has raked in around $6.6 billion in assets under management since its launch on Nasdaq on Jan. 11, according to Farside — retaining its position as the top provider across the 11 ETFs.

XRPcryptowolf is convinced that if BlackRock were to create a spot XRP ETF, it would steal the show from the booming IBIT. Given BlackRock is currently the biggest player in the spot BTC ETF game, a potential XRP ETF would draw in mammoth inflows, attracting the attention of investors who want exposure to the sixth-largest crypto asset without having to directly buy or hold it.