Fox Business journalist Charles Gasparino says BlackRock has no plans to launch an XRP spot-based exchange-traded fund (ETF).
Over the past few weeks, there have been speculations that BlackRock, the world’s largest asset manager, might be considering launching a spot-based exchange-traded fund (ETF).
Speculations About BlackRock Exploring XRP ETF
During an interview last week, BlackRock CEO Larry Fink further stoked the flames of these speculations regarding the prospects of the company launching a spot XRP ETF. Responding to the possibility of BlackRock applying for an XRP ETF, Fink said he “can’t talk about that.”
Interestingly, XRP community members speculate that Fink’s comment suggests that BlackRock might be considering launching a spot ETF for the sixth-largest cryptocurrency in the near future.
Fox Journalist Dismisses BlackRock XRP ETF Speculations
However, Fox Business journalist Charles Gasparino has dashed the hopes of XRP enthusiasts following his recent update on BlackRock’s potential launch of a spot-based ETF for the cryptocurrency.
In a tweet yesterday, Gasparino noted that sources with direct knowledge of the matter told him that the world’s largest asset manager is not planning to launch an XRP ETF.
SCOOP: @BlackRock has no plans for a spot $XRP ETF, according to people with direct knowledge of the matter story developing
— Charles Gasparino (@CGasparino) January 18, 2024
XRP Enthusiast React
As expected, Gasparino’s tweet stirred the wrath of XRP community members, who took to the comment section to accuse him of lying. Some enthusiasts noted that XRP deserves an ETF since the coin now has regulatory clarity, which came in the SEC v. Ripple lawsuit.
Responding, Gasparino said the July decision issued by Judge Analisa Torres puts XRP in a gray area, as the coin can be classified as partial security and non-security at the same time.
The $XRP Army defines”regulatory clarity” as Judge Torres saying XRP is kinda sorta a security and kinda sort not a security while the case gets appealed. And no ETF. But nice try. https://t.co/pNV8NHrWeh
— Charles Gasparino (@CGasparino) January 18, 2024
Furthermore, the Fox Business journalist speculated that the Ripple decision is now subject to “serious appeal.” In a follow-up tweet, the reporter highlighted the ambiguity in the SEC v. Ripple as a major factor that could hinder major money managers like BlackRock from considering launching an ETF for XRP.
The idiocy of the XRP Army fantasy about a $XRP spot ETF can be summed in the name of “Judge Torres.” You cant expect any major money manager to roll the dice w the @SECGov on an XRP ETF when the @Ripple case’s ruling was both convoluted and now subject to a serious appeal https://t.co/kTEl4awBMT
— Charles Gasparino (@CGasparino) January 18, 2024
BlackRock’s Crypto ETF Journey
In the meantime, BlackRock has a spot-based Bitcoin ETF currently trading on a regulated exchange in the United States. The company has also applied to launch an Ethereum ETF, with the SEC expected to issue a decision on the filing in August.
Notably, the final resolution of the SEC v. Ripple lawsuit will play a major role in determining whether BlackRock will explore XRP-based ETFs in the future.