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5d ago

BlackRock Rules Out XRP and Solana Spot ETFs

Client demand remains focused on Bitcoin, with Ethereum as the only other asset meeting BlackRock’s ETF criteria

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Overview

  • A BlackRock spokesperson told The Block it has no current roadmap or filings for spot ETFs linked to XRP or Solana
  • The firm’s clarification followed Ripple and the U.S. Securities and Exchange Commission dropping appeals and concluding a five-year legal battle
  • Chief Investment Officer Samara Cohen and Head of Digital Assets Robert Mitchnick said institutions show little interest in crypto ETFs beyond Bitcoin and Ethereum
  • Analysts including Nate Geraci and Eric Balchunas warn competitors could seize opportunities to file XRP and Solana ETFs ahead of an October 2025 deadline
  • Investors remain split over whether XRP’s enduring market presence justifies an ETF despite BlackRock’s narrow institutional focus