Recent rumors about BlackRock’s plans to launch an XRP ETF have been debunked, with confirmation that the world’s largest asset manager has no plans to introduce a spot XRP exchange-traded fund. Larry Fink, BlackRock’s CEO, made comments that sparked speculation, prompting the clarification.
BlackRock recently entered the cryptocurrency space, launching the iShares Bitcoin Trust, a spot Bitcoin ETF. The company has also filed for a spot Ether ETF called iShares Ethereum Trust.
These funds are intended to reflect the prices of Bitcoin and Ethereum, demonstrating BlackRock’s strategic focus on the two leading crypto.
BlackRock manages the iShares ETFs, which are held by Coinbase, a well-known crypto exchange. This collaboration strengthens BlackRock’s presence in the crypto market via established and regulated platforms.
XRP, the native token of the XRP Ledger, has experienced significant growth, surpassing 5 million wallets on its network.
The crypto’s transaction volume remains high, and its price has increased by approximately 65% over the last year.