The competition for an XRP exchange-traded fund (ETF) in the United States is intensifying, with major financial institutions like BlackRock and Fidelity expected to join the race. Nate Geraci, president of The ETF Store, recently predicted on X that XRP ETF approval is “simply a matter of time.”
Geraci highlighted that XRP is the third-largest cryptocurrency by market capitalization, excluding stablecoins, making it an attractive option for large asset managers. He anticipates that prominent firms such as BlackRock, Fidelity, Bitwise, Canary Capital, WisdomTree, and Grayscale will soon enter the space.
While BlackRock has focused on Bitcoin and Ethereum ETFs due to their strong market performance and widespread popularity, analysts believe the firm will not overlook XRP for long. BlackRock’s head of ETFs, Jay Jacobs, has stated that altcoin ETFs, including XRP and Solana, are not currently on the firm’s agenda.
The optimism surrounding XRP’s potential for an ETF approval is bolstered by the recent resolution of Ripple Labs’ long-standing legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple’s settlement, involving a reduced fine of $50 million from an originally proposed $125 million, marked a significant victory for the company and is seen as a catalyst for greater institutional adoption of XRP.
In February, Brazil took a significant step by approving the world’s first spot XRP ETF, with the country’s Securities and Exchange Commission (CVM) granting regulatory approval to Hashdex’s Nasdaq XRP Index Fund.
This progress has fueled the growing anticipation that an XRP ETF could soon be approved in the U.S. According to figures from Polymarket, there is an 87% chance of approval in 2025, with a 38% likelihood that it will happen before July 31, 2025.
Franklin Templeton, with $1.5 billion in assets under management, has already entered the XRP ETF race, further signaling the growing institutional interest in XRP. Given XRP’s market capitalization of over $144 billion, many experts believe it’s only a matter of time before the largest ETF issuers join the fray.
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