It appears that the illustrious BlackRock, that titan of finance, is preparing to dip its toes into the murky waters of Solana and XRP exchange-traded funds. This revelation comes courtesy of none other than Nate Geraci, the esteemed president of The ETF Store, who seems to have a nose for these things, much like a bloodhound on the scent of a particularly juicy bone. 🐶
In a rather audacious post on the social media platform X (formerly known as Twitter, but let’s not dwell on the past), Geraci has boldly predicted that BlackRock will not sit idly by while its competitors frolic in the ETF playground with two of the top five non-stablecoin assets. He anticipates a filing for Solana (SOL) to be just around the corner, while the Ripple (XRP) filing may have to wait until the SEC finishes its legal tango with Ripple Labs. 💃
“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
Now, one must consider the institutional demand for these ETFs, which could be as significant as a butler’s tip after a particularly splendid dinner party. The SEC has already received applications from a veritable who’s who of asset managers, including Grayscale, Bitwise, Franklin Templeton, VanEck, Canary Capital, and 21Shares. It’s a veritable stampede of financial heavyweights! 🏇
According to a rather enlightening analysis from JPMorgan, shared with Fortune in January, Solana ETFs could see inflows ranging from $3 billion to $6 billion within a mere 6 to 12 months. Meanwhile, XRP ETFs might attract a staggering $4 billion to $8 billion, based on the adoption rates of Bitcoin (BTC) and Ethereum (ETH) ETFs. It’s enough to make one’s monocle pop out in astonishment! 🤓
However, amidst this burgeoning interest in XRP ETFs, the regulatory status of XRP remains as clear as mud. Back in 2020, Ripple Labs found itself in a bit of a pickle when the SEC decided to sue them, alleging that XRP was being sold as an unregistered security. A judge, in a moment of clarity, ruled in July 2023 that while institutional sales of XRP were indeed unregistered securities offerings, the token itself isn’t necessarily a security when traded on secondary markets. Talk about a legal conundrum! ⚖️
But fear not, dear reader! The SEC has not given up the ghost just yet and continues its legal battle, though a resolution may be on the horizon. According to FOX Business journalist Eleanor Terrett’s post on X from March 12, the SEC and Ripple are now engaged in discussions that could lead to a resolution. The talks reportedly revolve around adjusting penalties and aligning with recent SEC policy changes. It’s like watching a game of chess, but with far more at stake! ♟️
Given the larger push for regulatory clarity in the cryptocurrency space, Terrett has pointed out that ongoing discussions are centered on whether Ripple should still be subject to penalties under the new SEC leadership. If XRP is reclassified as a commodity, it could significantly boost the chances of ETF approval. And wouldn’t that be a turn-up for the books? 📚
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2025-03-14 13:10