BlackRock has stated it will not file for an XRP or Solana ETF. This announcement was made after Ripple’s prolonged legal battle with the U.S. Securities and Exchange Commission officially ended this week.
BlackRock Holds Off on XRP ETF Amid Legal Clarity, Drawing Criticism for Limited Crypto Focus
The top asset manager, which already lists Bitcoin and Ethereum ETFs, confirmed to The Block on Friday that it currently has no plans to submit applications for either product. This decision follows Thursday’s agreement between Ripple and the SEC to drop appeals, concluding a case launched in 2020.
Initially, industry observers speculated that the asset manager might have been waiting for the legal uncertainty to clear before applying for a BlackRock XRP ETF. But the firm’s statement proves that wasn’t the case.
However, Nate Geraci, president of NovaDius Wealth, criticized the asset manager’s narrow focus on Bitcoin and Ethereum. He warned that BlackRock risks ceding market share to competitors as the crypto ETF sector evolves.
BlackRock immediately calls me out…
Says *no* plans at this time to launch spot xrp (or sol) ETF.
IMO, this will be looked back on as a mistake.
We shall see.
via @ForTheWynn_ pic.twitter.com/9nQaA3ZYDO
— Nate Geraci (@NateGeraci) August 8, 2025
In his post, Eric Balchunas of Bloomberg Intelligence questioned where the ETF expansion would stop if XRP were included. He referenced assets like Solana and Tron, questioning whether the asset manager will also file for an ETF for these other cryptocurrencies.
Geraci responded that the ETF market is a “hugely moving target” and expressed surprise that BlackRock was not actively defending its leadership position in this category.
Mixed Reactions to BlackRock’s ETF Decision
Community reactions were mixed. Cam from CryptoNews_eth, suggested BlackRock might not see enough client demand for an XRP ETF. He noted stronger interest in Litecoin and XRP from Asian markets recently.
Seems as if sticking with the legacy route would be the best corse of action. $LTC and $XRP for the Asian markets as a lot of demand has come in over the last few weeks. Just my thoughts on the matter. BlackRock must not be seeing enough client demand for these products
— Cam (@CryptoNews_eth) August 8, 2025
Others, such as @xrpBreezy, emphasized XRP’s longevity as a reason the BlackRock could consider filing for this ETF. According to breezy, XRPL has existed over twice the period of Solana and Tron’s existence. Also, it has high market ranking consistently despite regulatory challenges.
Maybe the fact that the XRPL has been live over 2X as long as both SOL and Tron. XRP has a market cap 3X Solana’s and 10X Tron’s. Maybe those things make it differentiated? Or maybe it’s XRP never leaving the top 10 by MC since it’s inception, even through 5 years of US Gov hell…
— breezy 🏴☠️ (@xrpbreezy) August 8, 2025
Meanwhile, the SEC is reviewing multiple applications for XRP ETFs from firms including ProShares, 21Shares, Canary, and Bitwise.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
He holds a degree in Geophysics from OAU, Nigeria. When he’s not writing, he loves watching soccer and reading educative journals.
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