⚈ Blackrock denies sharing with XRP, citing continuous legal issues with SEC and confirming that the previous TRST file was fake.
⚈ There is no official deposit for XRP ETF, and Blackrock is still focusing on bitcoin and ethereum until organizational clarity around XRP improves.
Recently, speculation has grown on whether Blackrock (NYSE: BLK) has been preparing to launch a XRP exchange box (ETF).
Rumors intensified on May 9 after reports appeared that the largest investment manager in the world met with the Securities and Exchange Committee (SEC), specifically its encryption business squad, to discuss the criteria of ETF approval.
According to Shared messageBlackrock aims to explore more investment funds in Spot. The discussion included approval frameworks according to Article 6 (B) of the Potential Temporary Exchange Law for ETP.
Nevertheless, there is no official app for Blackrock XRP ETF, and SEC did not agree to any such product.
To date, Blackrock focused on the Bitcoin (BTC) and ETHEREUM (ETH), both of whom were approved earlier in 2024. In late last year, the ETF president of Blackrock, Jay Jacobs, said that the company will continue to prioritize these two encrypted currencies, with no immediate plans To expand beginners such as XRP.
Why Blackrock “Avoid” XRP ETF
The lack of a question file because XRP is the fourth largest encrypted currency depending on the market value. Although XRP and Blackrock’s financial power capabilities, the company did not apply to Spot XRP ETF.
The possible reason is the constant legal uncertainty surrounding XRP. The SEC long -term case against Ripple continues, although recent developments indicate progress, including a proposal to lift the embargo imposed on XRP institutional sales and reduce the Ripple penalty.
However, Blackrock is unlikely to wander in an unlawful area without a final solution.
The company also denied any contact with XRP or Ripple. Blackrock certain The presentation of the viral “XRP TRST” from November 2023 was fake.
Some industrial monitors believe that Blackrock may reconsider the idea if Ripple has a full legal settlement and the organizational scene becomes more clear.
XRP price analysis
At the time of the press, XRP has been traded at $ 2.54, a decrease of about 2 % over the past 24 hours, but more than 20 % for the week.
If Blackrock is ultimately files to obtain approval on Spot XRP ETF, this step may lead to significant institutional flows and may push XRP to higher levels.
Distinctive image via Shutterstock
