Why Hasn't BlackRock Filed for XRP ETF? Top Expert Names Possible Reason
Main Idea
Nate Geraci suggests BlackRock may be waiting for the SEC's new ETF approval framework before filing for spot-based XRP and Solana ETFs, with potential approvals expected as early as October.
Key Points
1. Nate Geraci, President of NovaDius Wealth Management, believes BlackRock is delaying its XRP and Solana ETF filings until the SEC's new approval framework is established.
2. The SEC is likely to approve such ETFs by October, expanding beyond Bitcoin and Ethereum single-asset spot ETFs.
3. BlackRock's iShares Bitcoin Trust ETF (IBIT) has $53.65 billion in cumulative net flows, highlighting its dominance in the ETF sector.
4. Geraci notes BlackRock prefers an index-based approach for stocks and bonds, suggesting it may apply a similar strategy to crypto ETFs.
5. The article mentions potential future filings for individual altcoin ETFs and index-based crypto ETFs by BlackRock.
Description
A top analyst has shared a possible reason why BlackRock is yet to file for spot XRP and Solana ETFs
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