BlackRock XRP ETF Coming Soon, Hints ETF Expert Nate Geraci

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The XRP and SOL ETF buzz is getting louder, and according to ETF Store President Nate Geraci, it’s only a matter of time before BlackRock joins the race. While the world’s largest asset manager hasn’t made any official move yet, Geraci says BlackRock is unlikely to sit back and watch others dominate this next wave of crypto ETFs. 

Btw, I still fully expect BlackRock to file for spot sol & xrp ETFs…

As leader in both spot btc & eth ETFs, it would make *zero* sense to cede other top crypto asset ETF categories to competitors.

Related, I also fully expect BlackRock to file for index-based crypto asset ETF.

— Nate Geraci (@NateGeraci) June 12, 2025

BlackRock Could Make a Move Soon, Will it be XRP or SOL? 

Geraci believes that with BlackRock already leading the charge in Bitcoin and Ethereum ETFs, it won’t want to miss out on the next big opportunity, XRP or Solana. In his view, XRP is now better positioned thanks to recent legal clarity and the launch of regulated XRP futures on the CME. These futures contracts, he says, are often a key step before spot ETFs are filed.

He even suggested that the Grayscale Digital Large Cap Fund, which already holds XRP, could be turned into a full-fledged ETF.

Interestingly, Polymarket shows higher approval odds for SOL—XRP at 87%, Solana at 90%. 

Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7

— Eric Balchunas (@EricBalchunas) June 10, 2025

Bloomberg ETF analyst Eric Balchunas hinted at a possible “Altcoin ETF Summer,” suggesting that Solana could lead the charge in upcoming altcoin ETFs. He shared insights from fellow analyst James Seyffart’s latest note, which includes updated odds for various spot ETF approvals. The post points to growing optimism around both individual altcoin ETFs and broader crypto basket products gaining traction soon.

Why the Hold-Up?

Despite the growing momentum, BlackRock remains focused on its two crypto products, the iShares Bitcoin Trust and the iShares Ethereum Trust, which have both seen strong performance. Last year, BlackRock’s ETF head, Samara Cohen, mentioned that only Bitcoin and Ethereum met their standards for liquidity and maturity. It’s unclear whether that stance has evolved since XRP’s legal status has become clearer.

Still, regulatory uncertainty remains. Ripple and the SEC are awaiting final approval of their settlement, and XRP’s futures market is still developing compared to BTC and ETH.

XRP ETF Filings Piling Up

While BlackRock watches from the sidelines, other major players are taking the lead. Firms like Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton have all submitted applications for spot XRP ETFs. But so far, the SEC has delayed its decision.

The regulator recently extended its review period for 21Shares’ ETF to October and has yet to respond to Grayscale’s filing from May. WisdomTree’s XRP Trust is now under formal review, with the SEC asking the public for input on risks such as market manipulation.

Global Progress Already Underway

Outside the U.S., XRP ETFs are already gaining ground. In Switzerland, 21Shares offers the AXRP ETP, while Brazil has become the first country to greenlight a spot XRP ETF.