Nate Geraci, President of the ETF Store, says he firmly believes BlackRock will eventually file for a spot XRP ETF.
In his most recent comments, Geraci pointed out that BlackRock has led the way in Bitcoin and Ethereum ETFs and would have no reason to let other companies take the lead when it comes to XRP or Solana, the next two largest crypto assets.
He also expects BlackRock to roll out an index-style crypto ETF. Recall that the industry commentator also recently suggested that the Grayscale Digital Large Cap Fund, which contains XRP, could be the next ETF up for approval.
Geraci Convinced BlackRock Will Enter the XRP ETF Market
Geraci’s latest comments follow a series of earlier predictions. Back in March 2025, he stated that a filing could come as soon as Ripple’s legal battle with the SEC concluded. At the time, he argued that major institutions like BlackRock and Fidelity wouldn’t want to give others the chance to dominate the growing altcoin ETF space.
Meanwhile, last month, he also highlighted a milestone that could support the case for a spot XRP ETF: the launch of regulated XRP futures on the CME. Geraci viewed this as a major step toward making an XRP ETF more likely, as futures contracts often pave the way for spot ETF filings.
CME-traded XRP futures are now *live*…
CFTC-regulated contracts on XRP.
Spot XRP ETFs only a matter of time. pic.twitter.com/MOhHtoGWbs
— Nate Geraci (@NateGeraci) May 19, 2025
BlackRock Remains Quiet
Still, despite the growing chatter, BlackRock hasn’t made any official move yet. Its focus remains on its existing crypto products, the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA), which have both performed strongly.
Recall that BlackRock’s head of ETF strategy, Samara Cohen, said in mid-2024 that only Bitcoin and Ethereum met the firm’s standards due to their higher liquidity and maturity. It’s unclear if that view has changed.
Given XRP’s newer legal clarity and its less-developed futures market, BlackRock may hold off until the regulatory and market signals are more established. For one, Ripple and the SEC are still waiting for the court’s approval of their settlement.
Developments Around XRP ETF Filings
Meanwhile, the XRP ETF scene has continued to see major developments. Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton have all filed applications for spot XRP ETFs. However, the SEC has not made any major decision.
The SEC pushed its decision on 21Shares’ spot XRP ETF to October 2025, following the usual 240-day review timeline. Grayscale also hit a major deadline on May 22, but the SEC didn’t issue a decision.
Just days later, on May 28, the SEC began its formal review of the WisdomTree XRP Trust, the first U.S.-based spot XRP ETF to reach this stage, while asking the public to weigh in on potential risks like market manipulation and investor protection.
Interestingly, outside the U.S., XRP-based exchange-traded products are already gaining traction. In Europe, 21Shares already has an XRP ETP, the AXRP ETP, which is trading in Switzerland. Meanwhile, Brazil has approved the first-ever spot XRP ETF globally.
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