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ETF spot SOL and XRP: BlackRock's application is coming
By Davide Grammatica
On the ETF front, work continues behind the scenes: according to industry expert Nate Geraci, BlackRock will submit an application for the SOL and XRP spot ETFs
Will BlackRock join the other applicants?
The world’s largest asset manager, BlackRock, could soon join the applicants for the SOL and XRP spot ETFs. At least, this is the idea of industry expert Nate Geraci, who shared his prediction on X. The SOL spot ETF could arrive “any day now”, while new developments are expected for XRP under the new SEC leadership under Trump.
“BlackRock is currently the leader in Bitcoin and Ether ETFs,” said Geraci. ”I don’t see them allowing competitors to enter and launch new ETFs on 2 of the top 5 non-stablecoin crypto assets without any kind of action.”
However, there have been no signs of this from BlackRock, which has repeatedly officially denied being interested in launching new crypto products based on altcoins. CEO Larry Fink, ETF manager Jay Jacobs and CIO Samara Cohen have all emphasized the lack of interest in Bitcoin and Ethereum products in the near future.
Also because, as Jacobs said, BR would only be at the “tip of the iceberg with Bitcoin and especially Ethereum”, and still few customers would have gotten their hands on IBIT and ETHA.
I’m ready to log formal prediction…
BlackRock will file for *both* solana & xrp ETFs.
Solana could be any day. Think xrp once SEC lawsuit concluded.
— Nate Geraci (@NateGeraci) March 14, 2025
What we know about SOL and XRP spot ETFs
As for Ripple, observers are waiting for news from the new US administration, with a new regulatory framework that could put an end to the company’s legal battle with the SEC. At that point, the agency could approve the requests (such as Grayscale’s) already submitted for an XRP spot ETF.
A few days ago, Franklin Templeton applied for an ETF, adding to a growing list of companies vying for an XRP spot ETF, including Bitwise, ProShares and 21Shares.
Bitwise was the first, in October 2024, while 21Shares and WisdomTree followed suit at the end of the year.
The SEC is also already reviewing applications for a Solana spot ETF, including those from Canary Capital, VanEck, 21Shares and Bitwise.
According to Polymarket, the chances of the new ETFs being approved are around 52% for SOL and 36% for XRP.
