Nate Geraci Predicts BlackRock Will Eventually File for Spot XRP ETF
Nate Geraci, President of the ETF Store and a prominent voice in the exchange-traded fund industry, has expressed strong confidence that BlackRock will eventually file for a spot XRP ETF. Citing the firm’s proactive stance in the Bitcoin and Ethereum ETF space, Geraci believes it’s only a matter of time before BlackRock moves to secure its position in the broader crypto ETF market.
Geraci noted that after establishing a dominant presence with the iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA), BlackRock has little incentive to let competitors lead the charge in emerging crypto assets like XRP and Solana. He also suggested that an index-style crypto ETF may be in the works, expanding the firm’s exposure beyond just the two largest digital assets.
In earlier comments dating back to March 2025, Geraci speculated that a filing could come soon after the resolution of Ripple’s legal case with the SEC. At the time, he emphasized that major asset managers such as BlackRock and Fidelity would be reluctant to cede ground in the rapidly growing altcoin ETF sector.
One of the key developments reinforcing Geraci’s outlook is the recent launch of regulated XRP futures on the CME. He sees this as a foundational step, as futures markets often pave the way for spot ETF applications by offering more transparent pricing and regulatory structure.
BlackRock Maintains Silence
Despite the speculation, BlackRock has remained tight-lipped regarding any plans to expand into XRP or other altcoin ETFs. The firm continues to focus on its existing products, with both IBIT and ETHA showing solid performance.
Samara Cohen, BlackRock’s Head of ETF Strategy, previously stated in mid-2024 that only Bitcoin and Ethereum met the firm’s liquidity and maturity standards, a sentiment that has yet to be publicly revised.
However, XRP’s legal landscape has become clearer, and while its futures market is still developing, these factors could eventually align to meet BlackRock’s internal criteria.
The Broader XRP ETF Landscape
In the meantime, several asset managers have moved ahead with their own filings for spot XRP ETFs. Among them are Bitwise, 21Shares, WisdomTree, Grayscale, and Franklin Templeton.
The SEC has thus far delayed making any definitive decisions. Most recently, it extended its review of 21Shares’ application until October 2025, adhering to its standard 240-day review process. Similarly, Grayscale passed a key milestone in May without receiving a decision.
A notable step came on May 28, when the SEC officially began its review of the WisdomTree XRP Trust. This marks the first U.S.-based spot XRP ETF to enter this phase. The agency is currently soliciting public feedback on potential risks such as market manipulation and investor protection.
Outside the U.S., however, the XRP ETF space is already maturing. Switzerland hosts the 21Shares AXRP ETP, and Brazil has made headlines by approving the world’s first spot XRP ETF.
As legal and market frameworks continue to evolve, Geraci’s prediction may soon become a reality — with BlackRock once again poised to shape the future of crypto investing.
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