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The world’s largest asset management company, BlackRock, is anticipated to launch an exchange-traded fund (ETF) focusing on altcoins such as XRP and Solana 
$134 (SOL). Nate Geraci, an expert in ETFs, suggests that BlackRock is eager to maintain its dominant position with Bitcoin 
$101,973 and Ethereum 
$2,259 ETFs while recognizing the legal clarity that XRP has recently achieved. This clarity, coupled with the introduction of regulated XRP futures contracts on the Chicago Mercantile Exchange (CME), is seen as a crucial step toward Spot ETF applications.
Expectations for BlackRock’s Potential Move
Nate Geraci underscores BlackRock’s ambition to seize the next major opportunity after its success with Bitcoin and Ethereum ETFs. With the legal hurdles between Ripple 
$2 and the U.S. Securities and Exchange Commission being dissolved, XRP has gained a more favorable position. These developments are likely to pave the way for spot XRP ETF filings.
Geraci also highlights the potential for Grayscale’s “Grayscale Digital Large Cap Fund,” which already includes XRP, to transition into a fully-fledged ETF. This could provide a swift market entry by converting an existing product to an ETF format. Meanwhile, prediction platform Polymarket shows a 90% probability of a spot Solana ETF being approved and puts the likelihood for a spot XRP ETF at 87%.
Challenges Due to Regulatory Uncertainty
To date, BlackRock has not made any formal moves, keeping its focus on the impressive performance of its Bitcoin (iShares Bitcoin Trust) and Ethereum (iShares Ethereum Trust) products. Last year, ETF department head Samara Cohen mentioned that only Bitcoin and Ethereum meet the required liquidity and maturity standards. It remains unclear if this perspective has shifted despite the cleared legal status of XRP.
Regulatory uncertainties persist, as the final approval of the Ripple-SEC agreement is pending. The XRP futures market is still developing compared to Bitcoin and Ethereum markets, potentially affecting ETF approval processes. The SEC maintains caution, extending the review period for 21Shares’ application until October and not yet responding to the Grayscale filing submitted in May.
Global Developments and Market Predictions for ETFs
While the ETF applications await approval, other major players have made strides. Companies like Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton have all filed for spot XRP ETFs. WisdomTree’s XRP Trust is under official review, with the SEC gathering public opinions on risks like market manipulation, indicating a thorough yet careful progress in the review process.
Globally, XRP ETFs/ETPs have already gained traction. In Switzerland, 21Shares offers the AXRP ETP, and Brazil has become the first country to approve a spot XRP ETF. Bloomberg ETF analyst Eric Balchunas forecasts a “Summer of Altcoin ETFs,” suggesting Solana could lead this wave. Analyst James Seyffart’s updated approval probabilities suggest increased optimism for both individual altcoin ETFs and broader cryptocurrency portfolio products.
