The competition for an XRP exchange-traded fund (ETF) in the United States is heating up, with financial giants BlackRock and Fidelity preparing to enter the race.
Nate Geraci, president of The ETF Store, expressed confidence in a forthcoming XRP ETF approval, asserting that it is “simply a matter of time.” Geraci highlighted XRP’s position as the third-largest cryptocurrency by market capitalization, excluding stablecoins, making it an attractive option for large asset managers. He expects notable firms such as BlackRock, Fidelity, Bitwise, Canary Capital, WisdomTree, and Grayscale to make moves in the space.
While BlackRock has focused its efforts on Bitcoin and Ethereum ETFs due to their market dominance, Jay Jacobs, the firm’s head of ETFs, recently confirmed that altcoin ETFs like XRP and Solana are not currently on the firm’s radar. However, industry analysts believe that BlackRock and Fidelity will eventually turn their attention to XRP.
This optimism is bolstered by the recent resolution of Ripple Labs’ prolonged legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple reached a settlement, agreeing to pay a reduced fine of $50 million, down from the original $125 million penalty, effectively concluding the landmark case. This settlement is seen as a major victory for Ripple and is expected to pave the way for greater institutional interest in XRP.
Adding to the growing momentum, Brazil recently approved the world’s first spot XRP ETF, granting regulatory approval for Hashdex’s Nasdaq XRP Index Fund. This development has further fueled speculation about the potential for XRP ETF approval in the U.S.
According to Polymarket data, there is an 87% chance that an XRP ETF will be approved by 2025, with a 38% probability of approval before July 31, 2025. Meanwhile, Franklin Templeton, with $1.5 billion in assets under management, has already joined the race. Given XRP’s market capitalization of over $144 billion, many experts believe it is only a matter of time before the largest ETF issuers move into this space.
Related topics:
XRP Surpasses Tether, Becomes the Third Largest Cryptocurrency by Market Cap
XRP Surpasses Tether, Becomes the 3rd Largest Cryptocurrency by Market Cap
Justin Sun Rejects Profits from Memecoins on Tron Blockchain
