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BlackRock Plans XRP ETF Application Following Ripple Appeal Resolution
According to BlockBeats, The ETF Store President Nate Geraci revealed that BlackRock intends to file an application with the U.S. Securities and Exchange Commission for an XRP ETF once the Ripple appeal case is resolved. This move aims to diversify cryptocurrency ETF portfolios. Geraci criticized BlackRock's focus solely on Bitcoin and Ethereum, suggesting it implies only these assets hold value.
Bloomberg's senior ETF analyst Eric Balchunas commented on the matter, expressing skepticism about the potential popularity of an XRP ETF compared to Bitcoin and Ethereum. He suggested that diminishing returns might become evident from this point forward.