With XRP overtaking BlackRock in the global assets ranking, Zach Rector voiced a firm conviction that the world’s largest asset manager will eventually launch an XRP ETF.
XRP registered a significant rally over the weekend, which saw it overtake BlackRock in the global asset ranking. The cryptocurrency reached a 7-day high of $3.12 yesterday, translating to a market cap of $185.18 billion.
XRP Enters Top 100 Global Assets Ranking
This performance catapulted XRP into the top 100 global assets by market cap, while surpassing BlackRock along the way. Despite recording a slight correction to $2.98, XRP continues to rank ahead of BlackRock and remains among the world’s top 100 assets.
At the current price of $2.98, XRP has a valuation of roughly $178 billion. However, BlackRock, whose stock trades at $1,148 at the time of publication, boasts a market cap of $177.8 billion.
“BlackRock Will Launch XRP ETF”
As expected, XRP’s community members have been celebrating the latest milestone, with some making bold predictions about the cryptocurrency. One of these forecasts came from popular community figure Zach Rector.
He suggested that it could be an awkward moment for the BlackRock team members to watch as XRP’s market cap surpasses that of the firm. Consequently, Rector predicted that BlackRock, which currently offers Bitcoin and Ethereum ETFs, will definitely file and launch a similar product for XRP.
The reasoning is that with XRP’s soaring valuations in the global asset ranking, the world’s largest asset manager may see value in the cryptocurrency.
Rector also issued another bold forecast, speculating that the potential BlackRock XRP ETF will outperform the company’s Ethereum exchange-traded fund (ETHA). At press time, ETHA boasts a total inflow of $12.15 billion, positioning it as the best-performing spot Ethereum ETF globally.
No Immediate Plans for XRP ETF
Despite Rector’s bold prediction, BlackRock has continued to dismiss any immediate plans to roll out a spot ETF tied to XRP. The company has yet to show interest in XRP even though several asset managers are vying to launch spot XRP ETFs in the United States.
However, many expect the company to change its stance following the conclusion of the Ripple lawsuit, which removed the regulatory tension surrounding the token.
Meanwhile, Nate Geraci of NovaDius Wealth Management warned that BlackRock risks losing its dominance in the crypto ETF market if it delays filing for an XRP ETF.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
