Ripple’s Legal Battle Ends, ETF Speculation Heats Up
The Ripple XRP ETF conversation reignited after Ripple finally ended its years-long SEC lawsuit. The case, which began in 2020, accused Ripple of raising $1.3 billion through XRP sales deemed unregistered securities. While Judge Analisa Torres ruled that some institutional sales violated securities laws, she cleared programmatic sales made through blind bidding.
On Thursday, both Ripple and the SEC agreed to drop their appeals, officially closing the legal chapter. Many saw this as a potential green light for financial giants like BlackRock to enter the XRP ETF race.
BlackRock Says “Not Yet” to XRP ETF
Despite the excitement, BlackRock, the world’s largest asset manager and a leader in bitcoin and Ethereum ETFs, confirmed it has no current plans to file for an XRP or Solana ETF. A spokesperson told The Block that, for now, those products aren’t on their roadmap.
Nate Geraci, president of NovaDius Wealth, suggested BlackRock might simply be letting competitors move first to gauge demand. Others argue that if BlackRock wanted in, it would have already filed.
Rival Firms Move Ahead
While BlackRock stays on the sidelines, other firms like ProShares, 21Shares, Canary, and Bitwise have already submitted proposals for XRP ETFs. Bloomberg analysts have boosted the odds of spot XRP, Dogecoin, and Cardano ETFs being approved by year’s end to 90%.
Still, some industry voices caution against overconfidence. Alexander Blume of Two Prime Digital Assets called the optimism “wishful thinking,” pointing out that XRP’s market cap is less than half of Ethereum’s.
Experts See Solana Ahead of XRP
Vivian Fang, finance professor at Indiana University, believes altcoins like Solana could see ETF approvals before XRP. She highlighted key differences in blockchain models and market positioning that could influence the SEC’s decisions.
With the lawsuit behind it, Ripple may finally have regulatory clarity, but whether that translates into an XRP ETF—especially from BlackRock—remains uncertain.
Stay tuned to Maple Wire for the latest in crypto market shifts and ETF updates.
