The U.S. altcoin ETF race is heating up, but the largest asset manager in the world is nowhere to be found.
While firms like ProShares, Grayscale, and Franklin Templeton push forward with applications tied to XRP, Solana, and other cryptocurrencies, BlackRock has so far avoided any public move into the sector.
This absence is striking given BlackRock’s high-profile entries into Bitcoin and Ethereum ETFs — products that now dominate much of the U.S. spot market. Industry chatter has long hinted that the company might eventually expand into altcoin offerings, but analysts speaking with Coindesk suggest that the odds, at least for an XRP fund, are currently low.
Why the Reluctance?
According to market experts, several conditions are likely influencing BlackRock’s decision-making. Demand from its client base remains concentrated on BTC and ETH, leaving little incentive to diversify into less-established assets. On top of that, XRP’s regulatory position in the U.S. remains uncertain despite partial legal victories for Ripple.
Competition is another factor. The market is already crowded with multiple applications for spot XRP ETFs, making it harder for a latecomer to stand out. Internally, BlackRock’s own projections may not align with the market’s bullish sentiment. Analysts also note that much of XRP’s trading activity is centered in Asia, limiting the asset’s strategic appeal for a U.S.-focused product.
The State of Play
At least seven asset managers are currently seeking approval for an XRP ETF, setting the stage for potential launches if regulators give the green light. Whether BlackRock eventually joins them could depend on a shift in client demand or a breakthrough in regulatory clarity.
For now, the firm’s silence sends a clear signal: even the biggest name in asset management is in no rush to chase every crypto trend, especially when the legal and market conditions don’t yet match its long-term strategy.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/why-blackrock-is-holding-back-on-xrp-and-solana-etfs/