The possibility of a BlackRock XRP exchange-traded fund (ETF) is gaining traction, with signals suggesting the investment giant is edging closer to this move.
Speculation around BlackRock’s interest in XRP has resurfaced, fueled not by official filings but by hints dropped in discussions regarding the firm’s approach to the next wave of crypto ETFs and the key factors it is monitoring closely.
BlackRock’s ETF Evolution
BlackRock was an early adopter of crypto spot ETFs, launching the iShares Bitcoin Trust ETF (IBIT) as its first foray into the sector. IBIT quickly emerged as the most traded spot Bitcoin ETP, amassing over $100 billion in assets by early 2026.
Expanding beyond Bitcoin, BlackRock introduced its spot Ethereum ETF, followed by the iShares Staked Ethereum Trust (ETHB) listing on Nasdaq on March 12, 2026.
Despite its success with Bitcoin and Ethereum ETFs, BlackRock has yet to venture into XRP-based spot ETFs. This, however, hasn’t deterred XRP enthusiasts from analyzing every hint from the company’s leadership. Insights into BlackRock’s stance on a potential XRP ETF were shared by Robert Mitchnick, BlackRock’s Head of Digital Assets, in a recent appearance on CNBC’s Crypto World.
During the interview, Mitchnick emphasized that while BlackRock is evaluating new crypto ETF opportunities, it is proceeding cautiously rather than hastily. He highlighted Bitcoin and Ethereum as the primary areas of interest but acknowledged pockets of demand for other digital assets. Mitchnick stressed BlackRock’s methodical approach, considering factors like asset maturity, liquidity, scale, and use cases in assessing assets for inclusion in iShares ETFs.
Is XRP a Fit for iShares ETFs?
XRP appears to align with the criteria outlined by Mitchnick, boasting deep liquidity across global markets, a substantial market cap, and a clear use case in payment, settlement, and tokenized assets.
While BlackRock hasn’t signaled XRP’s eligibility for its iShares ETF lineup, several other investment firms have already launched XRP-based spot ETFs in the US, including Canary, Bitwise, Franklin Templeton, Grayscale, and 21Shares.
Steven McClurg, CEO of Canary Capital, anticipates that BlackRock might introduce a Spot XRP ETF by late 2026 or 2027. He suggests that for BlackRock to consider an XRP ETF, assets under management would need to exceed $3 billion in net inflow, triple the current level.
Featured image created with Dall.E, chart from Tradingview.com
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