BlackRock Confirms No Immediate Plans for XRP and Solana ETFs

Highlights:

• BlackRock states it currently has no plans to introduce separate spot ETFs for XRP or Solana.
• Analysts believe ignoring other crypto ETFs suggests focusing only on Bitcoin and Ethereum.
• Seyffart says an early Solana ETF launch by BlackRock would disadvantage smaller applicants.

BlackRock, the world’s largest asset manager, told The Block on Friday that it has no current plans to apply for separate spot ETFs for XRP or Solana. At first, industry analysts thought the asset manager might be waiting for legal issues to be resolved before moving forward with a BlackRock XRP ETF. This decision comes after Thursday’s agreement between Ripple and the SEC to withdraw appeals, ending the case that began in 2020. However, the firm’s statement indicates this was not the case.

Analysts Question BlackRock’s Plans for More Crypto ETFs

The confirmation came soon after ETF Store President Nate Geraci predicted that BlackRock would eventually join the XRP ETF market as Ripple and the SEC conclude their appeals. He noted that it’s difficult to justify avoiding crypto assets beyond Bitcoin and Ethereum. According to him, if BlackRock truly avoids launching other crypto ETFs, it is basically signaling that only BTC and ETH are worth investing in. In earlier remarks, the wealth manager said applying for an XRP or Solana ETF could strengthen BlackRock’s position in the crypto ETF market.

BlackRock immediately calls me out…

Says *no* plans at this time to launch spot xrp (or sol) ETF.

IMO, this will be looked back on as a mistake.

We shall see.

via @ForTheWynn_ pic.twitter.com/9nQaA3ZYDO

— Nate Geraci (@NateGeraci) August 8, 2025

Similarly, Bloomberg ETF analyst Eric Balchunas believes BlackRock is satisfied with its two existing ETFs tied to the largest cryptocurrencies. He sees little value in expanding beyond these products. He also questions whether the firm will apply to an index-based crypto ETF, which could include major assets like XRP, later this year.

I just think they are happy w the two. Law of diminish returns from here on out. But again I’ve nothing to go on but my own spidey sense here.

— Eric Balchunas (@EricBalchunas) August 8, 2025

Analyst Slams Idea of BlackRock Joining Early Solana ETF Filings

ETF analyst James Seyffart said the world’s largest asset manager, BlackRock, should not be allowed to launch a Solana ETF at the same time as U.S. issuers who filed much earlier. “That’s messed up,” Seyffart told analyst Nate Geraci in a YouTube video on Saturday. He was talking about a possible situation where BlackRock, without filing yet, could enter at the last moment with a spot Solana ETF and launch alongside firms that submitted applications months before.

Seyffart said that smaller issuers have spent a lot of time working with the SEC to get their paperwork right. In June last year, VanEck became the first U.S. firm to file for a spot Solana ETF. Other applicants are Bitwise, CoinShares, Canary Capital, Grayscale, Invesco, 21Shares, Franklin Templeton, and Fidelity Investments. Since the first filing, the SEC has delayed its decision several times and asked for updated applications to get more legal clarity on the proposed products.

Seyffart suggested that BlackRock might choose to launch a crypto index product covering multiple coins beyond Bitcoin and Ethereum. He mentioned this could be a smart move for the company. Geraci noted that BlackRock could be waiting to see how competitors’ products perform before acting. He said the firm could move in swiftly if market demand proves strong.