tl;dr
Financial firms like BlackRock and Fidelity are expected to join the race for an XRP ETF in the US, with Nate Geraci stating that XRP ETF approval is "simply a matter of time." Positive developments in Ripple's legal battle with the US SEC have boosted confidence, leading to a surge in the likelihoo...
The race for an XRP ETF (exchange-traded fund) in the US is heating up as top financial firms, including BlackRock and Fidelity, are predicted to join the competition. Nate Geraci stated that XRP ETF approval is “simply a matter of time.” According to the president of the ETF Store, the XRP token is the third-largest non-stablecoin cryptocurrency by market capitalization, making it an attractive candidate for major ETF issuers. He expects leading asset managers like BlackRock and Fidelity to enter the XRP ETF market. This would mean following the footsteps of other firms like Bitwise, Canary Capital, WisdomTree, and Grayscale, who have already submitted filings.
Fidelity’s position remains unclear, but BlackRock recently said it would prioritize Bitcoin and Ethereum ETFs, citing their strong performance and market maturity. Specifically, regulatory uncertainty and low market share kept BlackRock from launching altcoin ETFs like Solana or XRP. Nevertheless, the growing confidence in an XRP ETF stems from recent positive developments in Ripple’s long-running legal battle with the US SEC (Securities and Exchange Commission). The securities regulator recently dropped its lawsuit against Ripple, marking a significant victory for the blockchain company. Ripple CEO Brad Garlinghouse has expressed renewed optimism about the company’s future in the US following this break.
As of February, the SEC began a 240-day countdown to review XRP ETF applications, with approval odds increasing significantly. According to Polymarket data, the likelihood of an XRP ETF approval in 2025 has surged to 82%. This growing confidence reflects the SEC’s changing stance on crypto-based ETFs following the approval of spot Bitcoin ETFs earlier this year. JPMorgan analysts predict that XRP ETFs could attract between $6 and $8 billion in 6 to 12 months. This projection reflects the strong demand for regulated crypto investment products. However, investor demand for additional products beyond Bitcoin and Ethereum ETFs remains uncertain.
Nic Puckrin, financial analyst and founder of The Coin Bureau, says the additional ETFs may be unnecessary in a soon-to-be oversaturated market. BeInCrypto data shows XRP was trading for $2.47 as of this writing, reflecting a modest surge of almost 2% in the last 24 hours.