- BlackRock addresses ETF rumors; no official filings confirmed.
- Market reactions speculative, causing uncertainty.
- Nate Geraci advises caution on reports taken out of context.
Nate Geraci, President of NovaDius Wealth Management, clarified that BlackRock hasn’t filed for XRP or SOL ETFs, countering speculative reports originating from The Block.
Market reactions remain speculative, with no confirmed institutional actions on XRP or SOL ETFs from BlackRock, contributing to asset and industry volatility amid ongoing rumors.
BlackRock’s ETF Rumors: Fact vs. Speculation
Speculation surrounding BlackRock’s intentions to file for XRP and SOL spot ETFs has emerged, propelled by reports from The Block. Nate Geraci, President of NovaDius Wealth Management, pointed out that these discussions might have stemmed from misleading information or being taken out of context.
Market reactions are currently speculative, as there has been no recorded movement on on-chain metrics for XRP or SOL tied directly to this development. Rumors of ETFs previously have led to volatility and price movements, as observed in past cycles with BTC and ETH.
“I do not comment on the news standards of specific crypto media, but it is clear that some reporting around a BlackRock XRP and SOL ETF filing is misleading or out of context. No official confirmation of such filings exists at this time.” — Nate Geraci, President, NovaDius Wealth Management
XRP and SOL Market Dynamics Amid ETF Speculation
Did you know? In previous years, rumors of Bitcoin ETF filings often spurred price surges prior to any formal announcements, highlighting the speculative nature and potential volatility in crypto markets.
CoinMarketCap data indicates that XRP is currently priced at $3.20 with a market cap of $189.62 billion. Its 24-hour trading volume stands at $6.02 billion, a 2.61% change. Over 60 days, XRP has increased by 37.64%, indicating significant market interest.
The Coincu research team notes potential volatility in XRP and SOL prices due to prospective institutional interest. Without official filings, any regulatory impact remains speculative, suggesting market sentiment is primarily reactive.
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Source: https://coincu.com/markets/blackrock-xrp-sol-etf-speculation/