Will BlackRock Enter the XRP ETF Race? SEC Delays Fuel Speculation

The XRP community is watching closely as the U.S. SEC continues to stall decisions on XRP ETFs, fueling speculation that BlackRock could step in. While the asset management giant hasn’t made any moves yet, analysts believe the ongoing delays could work in its favor. With its track record of securing ETF approvals, a BlackRock-backed XRP ETF could have a higher chance of success. 

Franklin Templeton Joins the Race

Despite regulatory uncertainty, Franklin Templeton has officially filed for an XRP ETF, with Coinbase Custody Trust Company handling the fund’s XRP holdings. This marks a big step in integrating XRP into traditional financial markets, proving that institutions are still betting on its long-term potential. Bloomberg’s Eric Balchunas pointed out that this marks the 64th altcoin or meme-coin ETF filing awaiting SEC approval, highlighting the increasing interest in crypto-based investment products.

Analysts Weigh in on SEC’s ETF Delay

Meanwhile, the SEC has also postponed decisions on XRP ETFs from Canary Capital and Grayscale, as well as Solana ETFs from Canary and VanEck. These delays suggest that the regulatory body is still hesitant about crypto ETFs beyond Bitcoin and Ethereum. However, analysts believe the political climate could play a role in shifting this stance.

Bloomberg analyst James Seyffart reassured investors that such delays are routine and don’t necessarily impact the likelihood of approval. The final deadlines for these ETF applications stretch until October, leaving room for potential changes.

Another Crypto analyst, Leigh Dunsford, suggests that the SEC delays could be intentional stalling or simply being overwhelmed with excessive ETF filings, causing approvals to slow down across the board. Eric Balchunas responds, saying he doubts this will happen but finds it interesting since many of these ETFs track assets tied to the U.S. government or even the president’s own interests.

Could BlackRock Wait for the Lawsuit to Settle?

Many experts believe that BlackRock may hold off on an XRP ETF filing until the Ripple lawsuit is resolved. Bill Morgan, an XRP advocate, suggests that BlackRock might see the delays as an opportunity to file at the right moment. A settlement with the SEC, which could come before Ripple’s appellate brief submission on April 16, 2025, might remove the final hurdle.

If the legal battle clears up, BlackRock and other major institutions could confidently enter the XRP ETF race, increasing the likelihood of approval. Furthermore, with a possible Trump administration in the U.S., analysts expect a more crypto-friendly SEC, which could shift the tide in favor of ETFs beyond Bitcoin and Ethereum.

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XRP Price Reacts to ETF Hype

XRP is up 5% amid ETF excitement, with open interest hitting $3 billion. Analyst Mikybull Crypto sees a bullish divergence, hinting at a major rally once the market recovers. While the SEC remains cautious, growing institutional interest suggests XRP ETF approval is a matter of “when,” not “if”—especially if BlackRock joins the race.