Will BlackRock Move To Altcoins Like XRP And Solana For Spot ETFs Next?

With
the
Spot
Bitcoin
and

Ethereum
ETF
already
trading,
there
have
been
discussions
about
whether
or
not
fund
issuers
will
apply
for
other
crypto
ETFs.
Specifically,
market
experts
have
questioned
if
the

world’s
largest
asset
manager,
BlackRock,
will
file
for
spot
ETFs
for
other
altcoins
like

Solana
and
XRP.

BlackRock
Unlikely
To
File
For
Spot
ETFs
For
Solana
And
XRP

BlackRock

will
unlikely
file
for
spot
ETFs
for
Solana
and
XRP
anytime
soon.
This
is
based
on
BlackRock’s
digital
assets
head,
Robert
Mitchnick,
who

stated

that
the
asset
manager
sees
“very
little
interest”
in
crypto
beyond

Bitcoin
and
Ethereum.
This
suggests
that
BlackRock
will
likely
just
stick
with
its
Spot
Bitcoin
and
Ethereum
ETFs
rather
than
pursue
offering
any
other
crypto
ETF.  

Charles
Gasparino,
an
American
journalist
and
senior
correspondent
at
Fox
Business,
had
also

previously
dismissed

the
possibility
of
BlackRock
filing
for
a
Spot
XRP
ETF.
His
declaration
came
following
an
interview
that
BlackRock’s
CEO
Larry
had
with
Gasparino
in
which
he
had
evaded
the
question
about
the
possibility
of

launching
a
Spot
XRP
ETF. 

Fink’s
elusive
reply
made
members
of
the
XRP
community
speculate
that
BlackRock
may
have
been
considering
an
XRP
ETF.
However,
Gasparino
later
cleared
the
air
and
revealed
that
Fink
lacked
in-depth
information
about
XRP,
so
he
didn’t
have
an
elaborate
answer
to
Gasparino’s
question
about
a
potential
BlackRock
XRP
ETF. 

While
BlackRock
might
not
be
interested
in
other
altcoins,
fund
issuers
like
VaEck
and
21Shares
see
potential
in
altcoins
like
Solana
and
have

already
applied

to
offer
the
first-ever
Spot
Solana
ETFs
in
the
US.
Asset
manager
Franklin
Templeton
has
also
taken
an
interest
in
Solana,
having
once
predicted
that
it
would
soon
become
the
third-largest
crypto
by
market
cap.
However,
it
remains
to
be
seen
if
the
asset
manager
will
eventually
file
for
a
Spot
Solana
ETF.  

Other
fund
issuers
are
expected
to
take
notice
of
Solana
sooner
rather
than
later,
considering
the
explosive
growth
the
crypto
token
has
already
enjoyed
in
this
bull
run.
Brian
Kelly,
founder
of
digital
assets
investment
firm
BKCM,

previously
mentioned

that
Solana
will
likely
be
the
next
to
get
its
own
ETF,
considering
that
it
is
part
of
the
‘big
3’
for
this
cycle
alongside
Bitcoin
and
Ethereum. 

The
Possibility
Of
A
Spot
XRP
ETF

While
no
asset
manager
has
yet
to
file
for
a

Spot
XRP
ETF

in
the
US,
there
are
expectations
that
it
will
eventually
happen.
Ripple
CEO
Brad
Garlinghouse

mentioned

at
the
Consensus
2024
conference
that
it
is
only
a
matter
of
time
before
the
market
witnesses
a
Spot
XRP
ETF
and
that
such
a
fund
is
“inevitable.”

However,
a
firm
like
VanEck
has
suggested
they
may
not
be
looking
to
file
for
a
Spot
XRP
ETF
soon.
This
follows
the
firm’s
Head
of
Digital
Assets
Research,

Mattew
Sigel’s
explanation

of
why
they
filed
for
a
Spot
Solana
ETF
and
not
any
other
fund
like
a
Spot
XRP
ETF.
Sigel

mentioned

that
Solana
is
just
as
decentralized
as
Ethereum,
as
no
single
entity
controls
more
than
20%
of
the
token’s
circulating
supply,
nor
can
anyone
unilaterally
halt
the
chain. 

The
same
cannot
exactly
be
said
about
XRP,
considering
how
much
of
the

token’s
supply
Ripple
holds.
As
such,
that
could
put
a
big
question
mark
on
XRP’s
decentralized
nature.
Meanwhile,
the
US
Securities
and
Exchange
Commission’s
(SEC)
case
against
Ripple
could
be
another
obstacle
to
any
potential
application
for
a
Spot
XRP
ETF. 

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image
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