World’s largest asset manager BlackRock refutes claims about its potential plan to launch spot ETFs separately tied to XRP or Solana.
Industry stakeholders have been predicting that BlackRock will broaden its cryptocurrency ETF offerings to include assets beyond Bitcoin and Ethereum.
In particular, Nate Geraci, the President of NovaDius Wealth Management, expressed confidence that BlackRock will soon join the race to launch standalone XRP and Solana ETFs in the United States.
He suggested that several factors could be delaying BlackRock’s decision to file for ETFs separately tied to XRP or Solana, including the possibility that the asset manager could be waiting for a more comprehensive regulatory framework.
BlackRock Denies Immediate Plans to File for XRP or Solana ETF
However, BlackRock recently issued a statement, dismissing immediate plans to file for a Solana ETF or a similar product for XRP.
Sharing the comment on X, Geraci said that BlackRock has called him out based on his initial speculation that the asset manager will join the race to roll out a spot XRP ETF or a Solana ETF.
Notably, BlackRock refuted this claim shortly after the SEC and Ripple submitted a joint motion to dismiss their appeals, potentially ending the regulatory uncertainty surrounding XRP.
While some commentators argued that the lawsuit was the main reason BlackRock avoided filing for an XRP ETF, its recent decision—despite the lawsuit’s conclusion—suggests otherwise.
A Costly Mistake
Reacting, Geraci believes that BlackRock would later reflect on that decision as a mistake.
BlackRock immediately calls me out…
Says *no* plans at this time to launch spot xrp (or sol) ETF.
IMO, this will be looked back on as a mistake.
We shall see.
via @ForTheWynn_ pic.twitter.com/9nQaA3ZYDO
— Nate Geraci (@NateGeraci) August 8, 2025
In his previous commentary, the wealth manager suggested that filing for an XRP or SOL ETF would help solidify BlackRock’s dominance in the crypto ETF market.
He also pointed out that by refusing to expand its crypto ETF offerings beyond Bitcoin and Ethereum, BlackRock is indirectly picking winners and losers in the space. Geraci considered this preferential treatment to be illogical.
Nonetheless, Geraci suggested that he is willing to wait and see how BlackRock’s refusal to file for XRP or SOL ETF will play out. In the meantime, BlackRock is exclusively focused on its existing Bitcoin and Ethereum spot ETFs and has not revealed plans to delve into other crypto assets.
Meanwhile, the SEC is actively reviewing the multiple XRP and Solana ETF applications and will decide their fate later this year.
Many industry experts, including Eric Balchunas and James Seyffart of Bloomberg, are optimistic that the SEC will approve at least one of these ETFs later this year. It remains to be seen whether this projection would materialize.
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