The recent filing by Grayscale to launch a spot XRP ETF has reignited market speculation about the future of Ripple’s native cryptocurrency in the traditional finance landscape. With multiple asset managers now entering the race, eyes are turning toward BlackRock—the world’s largest asset manager—to see if it will follow in Grayscale’s footsteps. While nothing has been confirmed, growing momentum and subtle hints from industry insiders have investors asking: Could a BlackRock XRP ETF be on the horizon?
Grayscale’s XRP ETF Filing Ignites Market Momentum
Grayscale has officially submitted a 19b-4 form with the NYSE, seeking to convert its existing XRP Trust into an exchange-traded fund (ETF). If approved by the U.S. Securities and Exchange Commission (SEC), this would mark a pivotal moment for XRP, granting it legitimacy in the institutional investment space.
The Grayscale XRP Trust was established following the landmark ruling in Ripple vs. SEC, where Judge Analisa Torres determined that XRP is not inherently a security when sold to retail investors. This legal clarity paved the way for financial products like ETFs. Currently, the trust holds approximately $16 million in assets under management (AUM)—a modest figure compared to Bitcoin or Ethereum ETFs, but significant as a starting point.
This move aligns with Grayscale’s broader strategy of expanding its digital asset ETF portfolio. The firm has already filed for ETFs tied to Litecoin, Solana, and even a Bitcoin Miners ETF (MNRS), signaling a clear intent to dominate the next wave of crypto-based financial products.
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Industry Buzz: Are More XRP ETF Filings Coming?
Adding fuel to the fire, FOX Business journalist Eleanor Terrett posted on social media suggesting that additional XRP ETF filings could be imminent. In her post, she wrote:
“Keep an eye out for possibly more filing activity by issuers with $XRP ETF applications next week.”
While she later clarified that she wasn’t confirming any specific filings—including from BlackRock—her use of the plural “issuers” sparked widespread speculation. Could this mean more than one major financial player is preparing to enter the XRP ETF arena?
Given BlackRock’s track record—especially its successful launch of the iShares Bitcoin Trust (IBIT), which quickly became the dominant spot Bitcoin ETF—many analysts believe it’s only a matter of time before the firm explores similar opportunities with other high-profile digital assets like XRP.
BlackRock already holds a Bitcoin futures position and has filed patents related to blockchain settlement systems. Its internal research team has also published reports analyzing XRP’s use case in cross-border payments, suggesting ongoing interest in the asset.
The Growing List of XRP ETF Applicants
Grayscale isn’t alone. As of early 2025, eight major asset managers have formally submitted applications for spot XRP ETFs. These include:
- Bitwise
- CoinShares
- Canary Capital
- 21Shares
- WisdomTree
- Grayscale
- And potentially more yet to be disclosed
This surge in institutional interest underscores a shift in perception: XRP is increasingly being viewed not just as a speculative token, but as a viable digital asset with real-world utility in global finance.
Ripple’s technology is already used by over 100 financial institutions for fast, low-cost international payments. An approved ETF would bring regulated exposure to this ecosystem for retail and institutional investors alike.
Market Reaction: XRP Price and Trading Trends
Despite the optimism surrounding ETF developments, XRP price action remains cautious. At press time, XRP trades around $3.08**, down slightly on the day, with trading volume dipping **31% to $4.7 billion. This consolidation follows the Federal Reserve’s decision to hold interest rates steady during its latest FOMC meeting.
Investors are also adopting a wait-and-see approach ahead of key macroeconomic data releases—particularly the U.S. Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge.
However, technical analysts remain bullish on long-term prospects. One prominent market expert recently projected that XRP could surge to $5 if it breaks above a critical resistance level. Such a rally would represent over 60% upside from current levels.
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Could XRP Join the U.S. Strategic Reserve?
A more speculative—but increasingly discussed—idea is whether XRP could one day be included in a U.S. Strategic Digital Asset Reserve. While no official proposals exist, the concept has gained traction online, particularly among crypto advocates who view XRP as a bridge between traditional banking and blockchain innovation.
Such a move would mirror how some nations are stockpiling Bitcoin as a reserve asset. While still far-fetched, the conversation highlights growing confidence in XRP’s foundational role in future financial infrastructure.
Frequently Asked Questions (FAQ)
Will BlackRock definitely file for an XRP ETF?
There is no official confirmation yet. While BlackRock has shown interest in digital assets through its Bitcoin ETF and blockchain research, it has not announced plans for an XRP ETF. However, given market trends, many believe it's a possibility in 2025.
How does an XRP ETF work?
A spot XRP ETF would track the real-time price of XRP by holding the actual asset. Investors could buy shares through traditional brokerage accounts, gaining exposure without needing to manage private keys or use crypto exchanges.
What impact would an approved XRP ETF have?
Approval would likely increase institutional adoption, improve market liquidity, and enhance regulatory credibility for XRP. It could also drive significant price appreciation, similar to what occurred with Bitcoin after spot ETF approvals.
Why is Grayscale converting its Trust to an ETF?
Converting from a closed-end trust to an ETF allows shares to be created and redeemed daily based on demand, reducing persistent discounts to net asset value (NAV) and improving efficiency.
Are XRP ETFs guaranteed approval?
No. The SEC has not yet approved any spot XRP ETF. Approval will depend on factors like market structure, custody solutions, and whether the agency views XRP as sufficiently resistant to manipulation.
What are the risks of investing in XRP ahead of an ETF?
Key risks include regulatory uncertainty, volatility, and reliance on broader crypto market sentiment. Additionally, if ETF applications are rejected or delayed, prices may decline.
Final Outlook: A New Chapter for XRP?
The combination of Grayscale’s filing, multiple institutional applicants, and whispers of further activity suggests that 2025 could be a transformative year for XRP. While BlackRock’s involvement remains unconfirmed, its past behavior indicates it rarely enters markets late—unless it’s preparing something strategic.
For investors, the message is clear: stay informed, monitor regulatory developments closely, and understand both the opportunities and risks tied to digital asset investing.
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With increasing institutional validation and Ripple’s expanding global footprint, XRP may be poised for a new era of growth—one where finance and blockchain converge like never before.
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