BlackRock, a global investment manager recognized for overseeing one of the largest exchange-traded fund lineups, has come under industry scrutiny for not offering an XRP-based ETF despite XRP’s position among the leading digital assets.
Industry voices question BlackRock’s ETF strategy
Digital Asset Investor, a cryptocurrency analyst active under the moniker @digitalassetbuy, has challenged BlackRock’s approach, suggesting its exclusion of XRP from ETF offerings may only be temporary. He amplified comments made by Nate Geraci, president of The ETF Store, an investment advisory firm specializing in ETFs.
Geraci recently stated that it remains “wild” for BlackRock to restrict spot crypto ETF offerings to Bitcoin and Ethereum, and not to propose even an index-based fund covering broader digital assets. He attributed this cautious stance to BlackRock’s track record of ETF success, interpreting the lack of diversification as a risk in itself.
Geraci’s outlook remains unchanged: he is “standing by my prediction that they capitulate at some point and launch additional spot crypto ETFs.”
Former BlackRock executive brings XRP knowledge to Ripple
Adding to the discussion, Digital Asset Investor highlighted the career shift of Robbie Mitchnick, who transitioned from BlackRock to Ripple. Mitchnick, while at BlackRock, worked on a 2018 valuation study of XRP—a report co-authored with Susan Athey, which analyzed XRP’s network characteristics in detail and compared them favorably to those of Bitcoin. The research estimated the fair market value of XRP at $4,813.
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AAPLDigital Asset Investor argues that Mitchnick’s move brings deep institutional understanding of XRP from BlackRock directly into Ripple’s core strategy. He suggested this knowledge could influence future product development or launches in the crypto ETF space.
Mini dictionary: Ripple, a San Francisco-based technology company, develops global payment solutions using blockchain technology and is the primary institution behind the XRP digital asset and its ecosystem.
Digital Asset Investor emphasized that Mitchnick, through his prior analysis, “clearly, inside of that valuation, talks about all the advantages” of XRP, indicating insider understanding is now embedded within Ripple.
Arguments for a spot XRP ETF
Analysts note that BlackRock’s infrastructure enables it to rapidly expand ETF offerings across multiple asset classes. The company’s existing portfolio includes around 500 different ETFs that cover equities, fixed income, commodities, and niche investment segments. According to Geraci and Digital Asset Investor, the omission of XRP from this portfolio is due to current strategic priorities rather than technical or regulatory constraints.
They claim BlackRock could launch a spot XRP ETF at any time, should the firm perceive favorable conditions or increased institutional demand for XRP exposure. These observers suggest that the timing of such a launch remains the only unresolved element.
Investor positioning and outlook
Digital Asset Investor advised his audience to “lock in,” describing BlackRock’s delay as a calculated move rather than a dismissal of XRP. He believes the firm is managing its market entries in a deliberate sequence, suggesting that its current reservations are likely tactical.
The ongoing debate among ETF experts and crypto commentators reflects growing interest in broadening the range of spot cryptocurrency ETFs. XRP, having a history of institutional research and relevance for blockchain-based payments, remains a key candidate for inclusion should BlackRock decide to expand its crypto ETF lineup further.
