Nate Geraci, a prominent figure in the financial advising space and President of The ETF Store, has ignited speculation in the cryptocurrency community regarding potential exchange-traded funds (ETFs) for altcoins like XRP and Solana, specifically by BlackRock, the largest asset management firm globally. Through a series of observations shared on social media platform X, Geraci has voiced his expectation that BlackRock will soon expand its cryptocurrency ETF portfolio to include these altcoins.
Will BlackRock File For A Spot XRP ETF?
In his emphatic prediction, Geraci stated that BlackRock is poised to file for ETFs based on both Solana and XRP, suggesting that this could happen imminently for Solana and contingent upon the outcome of Ripple Labs’ ongoing legal circumstances for XRP. He expressed confidence: “Solana could be any day. Think XRP once SEC lawsuit concluded.” This statement stirred considerable interest and conversation regarding the depth of BlackRock’s future investments in digital assets.
Geraci also elaborated on BlackRock’s strategic motivations for this indicated move. As the leading provider of assets in both Bitcoin and Ethereum ETFs, he cautioned that BlackRock would likely resist any efforts from competitors seeking to launch products linked to two of the top five non-stablecoin crypto assets without a counteraction. Furthermore, he even hinted the possibility of BlackRock filing for crypto index ETFs, thereby opening the floor for diversified offerings which could streamline crypto investment for the average investor.
This pivot in perspective from BlackRock contrasts sharply with positions they have expressed previously. Back in July 2024, Samara Cohen, BlackRock’s Chief Information Officer, made it clear to Bloomberg that there were no immediate plans to file for ETFs beyond Bitcoin and Ethereum. Additionally, in December, Jay Jacobs—the head of Thematic and Active ETFs—stated that the prestigious asset manager was concentrating on expanding its existing crypto offerings, reiterating that altcoin ETFs were nowhere on their immediate agenda.
Despite these earlier reservations, the market demand for altcoin-centric exchange-traded products has gained traction, and analysts have begun to acknowledge this shift. In a recent analysis, banking titan JPMorgan forecasted that approval for such ETPs could catalyze inflows that could reach as high as $14 billion within their inaugural year. Remarkably, they projected that Solana-specific ETPs might accrue between $3 billion to $6 billion in assets in under a year, while XRP-linked products could potentially increase assets by $4 billion to $8 billion, provided there’s a favorable regulatory landscape.
As of mid-March 2025, a total of nine issuers have formally applied to the U.S. Securities and Exchange Commission (SEC) for XRP-themed ETF products. These include notable players in the investment arena like Bitwise, Canary Capital, and Grayscale. Furthermore, firms like ProShares and Volatility Shares are diversifying their proposals, introducing numerous variations of ETFs—including both short and leveraged options—to cater to a wide cohort of trading strategies and investor approaches.
A critical aspect of Geraci’s prediction hinges on the resolution of the ongoing lawsuit filed by the SEC against Ripple Labs. The uncertain regulatory status surrounding XRP is a potential barrier for significant financial entities like BlackRock hesitating to unroll new crypto-focused investment vehicles. Many market observers contend that a clear verdict regarding XRP’s regulatory status would be pivotal in instigating major players to engage in crypto investment strategies.
As of the latest reporting, XRP is traded at $2.31, a figure reflecting its price volatility that often accompanies regulatory uncertainty and market speculation.
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