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<ul class="list-ic vertical">
 <li>1 <a>Sources: asset manager giant is not planning spot XRP exchange-traded fund</a></li>
 <li>2 <a>Earlier speculation followed BlackRock’s Bitcoin and Ethereum filings</a></li>
 <li>3 <a>It comes even as XRP adoption metrics like addresses, volume surge</a></li>
 <li>4 <a>Crypto analyst suggests XRP could reach $27 on Ripple lawsuit wins</a></li>
</ul>
According to insider sources, Wall Street colossus BlackRock has no intentions of launching an exchange-traded fund (ETF) tracking the price of the XRP cryptocurrency.
The news extinguishes recent optimism that BlackRock might amplify XRP investment exposure akin to its high-profile Bitcoin and Ethereum filings.
It also dampens hopes as alternative asset XRP shows growing blockchain usage indicators like soaring network activity.
<h2 class="wp-block-heading" id="strong-no-xrp-etf-plans-strong">No XRP ETF Plans</h2>
According to Fox Business journalist Charles Gasparino, informants close to BlackRock maintain that the asset management behemoth holds no aspirations for a spot XRP ETF product.
The revelation contradicts speculation swirling last week after CEO Larry Fink’s response hinted at BlackRock not considering the offering.But based on sourcing, any suggestions of an imminent fund giving investors pure price exposure now appear definitively ruled out.
<h2 class="wp-block-heading" id="strong-buoyed-by-recent-filings-strong">Buoyed By Recent Filings</h2>
Rumblings emerged suggesting BlackRock was weighing an XRP ETF on the heels of the firm, unleashing Bitcoin and Ethereum investment vehicles recently.
Last month, the asset giant unveiled a Bitcoin trust product tracking the flagship cryptocurrency before filing for an “iShares Ethereum Trust” ETF, which also provides direct asset price exposure.
The twin crypto unveilings stoked theories that XRP represented an obvious next cab off the rank, especially given BlackRock’s breadth managing trillions in investment products.
<h2 class="wp-block-heading" id="strong-surging-network-growth-strong">Surging Network Growth</h2>
Hopes further mounted courtesy of <a href="https://www.thecoinrepublic.com/2024/01/19/terra-price-forecast-will-luna-bounce-back-or-resume-downtrend/" target="_blank" rel="noopener noreferrer nofollow">XRP exhibiting</a> surging adoption metrics like wallet growth and on-chain activity that could draw investor capital via an ETF.
The native token underpinning Ripple’s global payments network recently crossed five million wallets in circulation.
Daily transaction counts are equally ascendant, averaging above five million XRP transfers each day since 2023 kicked off. Yet despite bullish blockchain usage numbers, BlackRock needs to be more interested in listing a tradable XRP vehicle.
<h2 class="wp-block-heading" id="strong-lingering-regulatory-issues-strong">Lingering Regulatory Issues</h2>
The apparent snub comes even with some analysts touting triple-digit percentage gains potential for XRP into 2024 should Ripple prevail against the Securities and Exchange Commission (SEC) alleging unregistered securities violations.
XRP crashed over 70% when the SEC sued Ripple in late 2020, but prices rebounded 50% in 2022 on incremental court victories.
Legal observers project a full exoneration could catapult XRP to $20 or higher by eliminating regulatory overhang. But lingering legal uncertainty may factor into BlackRock spurning XRP ETF plans for now.
<h2 class="wp-block-heading" id="strong-the-bottom-line-strong">The Bottom Line</h2>
Even with Ripple’s high-stakes litigation leaning favorable and XRP usage statistics climbing, don’t expect a BlackRock-backed exchange-traded fund tracking XRP to materialize anytime soon, according to insiders.
The asset management team, Leviathan, is reportedly entirely disinterested in launching such a product despite recent filings for similar Bitcoin and Ethereum investment vehicles.
For XRP proponents banking on mounting adoption metrics to sway Wall Street holdouts, the apparent snub signals mainstream finance remains cautious, granting legitimacy without unambiguous regulatory blessing.

Largest Asset Manager BlackRock Reportedly Rules Out Spot XRP ETF

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Thecoinrepublic.com

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