- Grayscale Investments has filed an application with the SEC to convert its XRP Trust into an exchange-traded fund (ETF), aiming to list it on the New York Stock Exchange.
- This move has sparked speculation about other major asset managers, particularly BlackRock, potentially entering the XRP ETF space.
Grayscale Investments has recently filed an application with the U.S. Securities and Exchange Commission (SEC) to convert its existing XRP Trust into an exchange-traded fund (ETF), aiming to list it on the New York Stock Exchange (NYSE). This move positions Grayscale among the growing number of asset managers seeking to introduce XRP-focused ETFs in the United States.
The filing has ignited speculation within the crypto community about which major financial institutions might follow suit. Notably, BlackRock, the world’s largest asset manager, has been a focal point of these discussions. Given BlackRock’s history of pioneering ETF offerings, including its successful launch of a Spot Bitcoin ETF last year, many industry observers are curious about its potential plans regarding an XRP ETF.
However, recent statements from BlackRock’s leadership suggest that the firm does not currently intend to launch an XRP ETF. Jay Jacobs, BlackRock’s Head of ETFs, has indicated that the company is not pursuing such a product at this time.
Despite BlackRock’s current stance, the broader market is witnessing a surge in interest surrounding XRP ETFs. Several asset managers, including Bitwise, CoinShares, Canary Capital, 21Shares, and WisdomTree, have filed applications for XRP ETFs, reflecting a growing institutional interest in Ripple’s native cryptocurrency.
The anticipation of new XRP ETF filings has also been fueled by comments from industry insiders. FOX journalist Eleanor Terrett recently suggested that additional XRP ETF applications could emerge soon, further intensifying speculation about potential entrants like BlackRock.
In the midst of these developments , the digital asset’s market performance has been under scrutiny. As of January 31, 2025, XRP is trading at approximately $3.10, with a 31% decrease in trading volume to $4.7 billion. Investors appear cautious following the Federal Reserve’s decision to maintain interest rates and ahead of the upcoming U.S. Personal Consumption Expenditures (PCE) inflation data release.
Analysts remain optimistic about the token’s future trajectory, citing the recent wave of ETF filings and other market developments as potential catalysts for price appreciation. Some experts predict that if XRP can surpass key resistance levels, it could rally to $5.00, representing a significant upside from its current price.
In conclusion, while Grayscale’s recent XRP ETF filing has heightened anticipation within the crypto community, BlackRock has not announced any plans to enter the XRP ETF space. Nevertheless, the increasing number of XRP ETF applications underscores a growing institutional interest in the cryptocurrency, suggesting that the landscape could evolve rapidly in the near future.
