BlackRock Targets XRP ETF
BlackRock, the world’s largest asset manager with over $11.6 trillion in assets under management, is now looking to launch an XRP ETF. At first glance, this may seem like great news for supporters of this cryptocurrency. However, Vandell Aljarrah, the co-founder of Black Swan Capitalist, states that this decision is not really aimed at helping people use or invest in XRP. According to him, it’s more of a move to gain control and make money for major financial players.
So far, nine major companies have applied for an XRP ETF, including Bitwise, 21Shares, Grayscale Volatility, and many more. But BlackRock has not yet entered the race.
Vandell Aljarrah warns that for those hoping that a BlackRock XRP ETF would greatly open the door to widespread cryptocurrency adoption, the reality may be disappointing. He believes that BlackRock may not have good intentions behind this initiative.
Limited Utility for Crypto Investors
The co-founder simply explains: holding native XRP gives you much more than just price exposure. You can use it for transfers, liquidity provision, staking, smart contracts, and even hold and transfer it on your own terms.
However, with an ETF, these real uses of XRP are completely out of reach. You cannot move it, hold it yourself, or do anything meaningful on the blockchain. It becomes a price tracking game, not actual participation.
After the news that BlackRock could consider an XRP ETF emerged, Polymarket bettors are optimistic. The odds of an XRP ETF being approved by 2025 have now surged to 81%.
Not long ago, these odds were 77%, showing how quickly sentiment changes. And regarding a potential approval before July 31, opinions are more divided. Around 44% of bettors believe it could happen by then, while the rest think it might take longer.
