BlackRock Rejects XRP, SOL ETFs Despite Ripple Win

BlackRock, the largest digital asset management company across the globe, has pushed back on the idea of launching a Ripple (XRP) or Solana (SOL) based Spot exchange-traded fund (ETF).

$11.5T Worth BlackRock Unmoved By XRP?

The digital asset heavyweight holds $11.55 trillion in assets under management (AUM) and is known in the crypto space for launching both Bitcoin (BTC) & Ethereum (ETH) Spot ETFs. While Ripple has recently closed in on the 6-year long XRP vs. the SEC case, many market observers expected BlackRock to be the next in line to pitch a Ripple-based ETF product

Along with Ripple (XRP), Solana’s SOL candidacy for a BlackRock crypto ETF is also out of the question for now. BlackRock’s representatives stated in an interview for The Block that the firm’s roadmap revolves only on Bitcoin (BTC) & Ether (ETH) for now. Previously, Robbery Mitchnick, BlackRock’s Head Of Digital Assets, said there’s “very little demand” for other ETFs.

This comes just a few days after Nate Geraci, the President of the ETF Store, suggested that BlackRock would be entering the Ripple ETF Market next. Meanwhile, Bloomberg’s top ETF specialist Eric Balchunas claims the reason behind an XRP ETF refusal from BlackRocks stems in the high profitability of the current IBIT & ETHA ETF products, covering just BTC & ETH.

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Why did BlackRock rule out XRP and SOL ETFs? BlackRock cited low client demand for cryptocurrencies beyond Bitcoin and Ethereum, focusing instead on growing their existing BTC and ETH ETFs. They see diminished returns in expanding to altcoin ETFs like XRP and SOL for now.

What sparked speculation about BlackRock filing for XRP and SOL ETFs? The end of Ripple’s legal battle with the SEC in August 2025, which clarified XRP’s regulatory status, fueled hopes that BlackRock might launch XRP and SOL ETFs. Analyst Nate Geraci also suggested BlackRock could file soon, but the firm denied these plans.

Are other firms pursuing XRP or SOL ETFs? Yes, firms like ProShares, 21Shares, Bitwise, Canary Capital, and Franklin Templeton have filed for XRP ETFs, while some are exploring SOL ETFs. Futures-based XRP and SOL ETFs have already attracted over $1 billion in inflows, showing market interest.

Could BlackRock change its stance on XRP and SOL ETFs? Maybe. BlackRock may be waiting to assess market demand and regulatory clarity. Analysts suggest they could file later if competitors’ ETFs succeed or if the SEC approves more altcoin ETFs by late 2025.

What’s the outlook for XRP and SOL ETF approvals? Bloomberg analysts estimate a 90% chance of SEC approval for spot XRP, SOL, and other altcoin ETFs by year-end 2025, driven by regulatory progress and futures-based ETF success. However, BlackRock’s focus remains on Bitcoin & Ethereum for now.

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