BlackRock’s Next Crypto Move Could Reshape XRP Market
In a major development for the cryptocurrency market, ETF expert Nate Geraci has predicted that investment giant BlackRock will launch both XRP and Solana ETFs once regulatory hurdles are cleared. This revelation comes as the crypto industry eagerly awaits the resolution of the SEC’s lawsuit against Ripple Labs.
Geraci, who serves as President of The ETF Store and Host of ETF Prime, made waves in the crypto community with his bold prediction, suggesting that BlackRock’s entry into the XRP market could trigger a significant capital influx. This prediction aligns with recent technical analysis suggesting XRP could target $2.80.
Market Impact and Institutional Interest
According to JPMorgan’s projections, the potential approval of XRP ETFs could lead to:
- XRP-based products: $4-8 billion in assets within 6-12 months
- Solana-related ETPs: $3-6 billion in expected inflows
- Total market impact: Up to $14 billion in the first year
Current ETF Landscape
The race for XRP ETF approval has intensified with nine major issuers already filing applications:
- Bitwise
- Canary Capital
- 21Shares
- WisdomTree
- ProShares
- Grayscale
- CoinShares
- Volatility Shares
- Franklin Templeton
Regulatory Landscape and Future Outlook
The timing of BlackRock’s potential entry hinges on the resolution of the SEC lawsuit against Ripple Labs. Market analysts believe a favorable outcome could trigger a domino effect of institutional adoption, with BlackRock’s participation potentially setting new precedents for the crypto asset class.
At press time, XRP trades at $2.31, with market sentiment increasingly optimistic about the asset’s future prospects in light of these developments.
Source: Bitcoinist