The XRP community has questions: why is BlackRock, the biggest name in finance, silent about launching an XRP ETF? Despite a wave of filings from other players, BlackRock has stayed eerily quiet. Analysts believe this isn’t because BlackRock dislikes Ripple (XRP). The truth is far more strategic, and it could have massive implications for the future of Ripple price action.
A video from Cheeky Crypto titled “CAN SUI 20x FROM HERE? SUI NEWS AND PRICE PREDICTION” took a short detour to break down the XRP situation too. As the host was sipping his morning coffee and scrolling through news, he noticed yet again another XRP ETF headline.
It was probably the 15th one this year alone. Grayscale filed. Bitwise filed. Even lesser-known groups like Canary Capital threw their hats in the ring. But BlackRock? Still nothing.
What you'll learn 👉
Why BlackRock Is Still Missing in Action on XRP ETFs
Cheeky Crypto’s investigation uncovered something interesting. BlackRock has already tasted huge success with its Bitcoin and Ethereum products. Their Bitcoin ETF now boasts over $30 billion in assets under management, while their Ethereum fund smashed through $1 billion in just two months.
As the analyst put it, “When you’re winning every hand at the poker table, you don’t leave for the slot machines.” Ripple price and XRP enthusiasm may be rising, but from BlackRock’s view, there’s no need to gamble when Bitcoin and Ethereum are bringing home easy wins.
Regulatory concerns are also a major factor. Even though Ripple largely beat the SEC, there’s no final judgment yet. Conservative giants like BlackRock rely on internal scorecards, and XRP still hasn’t ticked every box for liquidity, demand, and fully clear legal status. Bitcoin and Ethereum have that clarity. XRP is close but not close enough yet.
Strategically, BlackRock is letting firms like Grayscale and Franklin Templeton go first. If the SEC rejects their applications, BlackRock loses nothing. If the SEC approves them, BlackRock can swoop in later and dominate, just like they did with the Bitcoin ETF launch.
Adding even more hesitation, Cheeky Crypto reminded viewers of the fake XRP ETF filing incident from November 2023. A bogus filing claiming to be from BlackRock went viral, forcing them to publicly deny it and leaving a bad taste internally. After such a PR mess, BlackRock is extra cautious about anything related to Ripple.
Institutional Insights: XRP Is Close But Not There Yet
The thread by analyst All Things XRP (@XRP_investing) on X expanded this picture even more clearly.
They pointed out that BlackRock is currently milking their Bitcoin and Ethereum success stories. With $30 billion in their Bitcoin ETF and $1 billion in their Ethereum fund in just 60 days, they simply don’t have an incentive to rush into something riskier. Ripple price action may be strong, but from BlackRock’s risk-adjusted view, there’s no pressure yet.
1️⃣ BlackRock is milking BTC & ETH success.
— All Things XRP (@XRP_investing) April 20, 2025
Their iShares Bitcoin Trust hit $30B in AUM. The ETH ETF crossed $1B in just 60 days. Why add risk when you’re dominating the two most proven crypto assets?
Despite Ripple winning a major legal battle, regulatory scars still linger for conservative players. As All Things XRP noted, in the eyes of big institutions, the “security” label doesn’t fade easily. Bitcoin and Ethereum meet BlackRock’s internal thresholds for liquidity, legal clarity, and client demand. XRP, while getting closer, still falls just short.
Moreover, BlackRock’s style has always been clear. They don’t chase headlines. They wait for strategic leverage. Launching a fund is not about being first. It’s about winning big once the timing is perfect. As seen with their Bitcoin ETF (iShares IBIT), they prefer to let competitors test the waters and then strike when the risk is priced in.
Past events also haunt them. The 2023 fake XRP ETF filing made BlackRock extremely cautious about associating with XRP too soon. They prefer avoiding any whiff of controversy until regulatory and market clarity is undeniable.
Another big factor is XRP’s current market share. Bitcoin and Ethereum still dominate around 70% of the total crypto market cap combined. XRP, although growing, still lags behind, making it less attractive for institutions needing huge liquidity to enter and exit positions easily.
Adding to that, institutional client demand isn’t loud enough yet. As All Things XRP shared, their BlackRock-connected portfolio analyst friend mentioned that they get daily calls for Bitcoin and Ethereum products but hardly any for XRP.
Read Also: Will XRP Ever Be Worth $100? Here’s What Analysts Say
The Final Play: BlackRock’s Patience Could Lead to Domination
Cheeky Crypto’s closing points and All Things XRP‘s insights both align. BlackRock is not ignoring XRP forever. They’re simply waiting for the “perfect moment” when XRP has full regulatory clarity, explosive liquidity, and undeniable institutional demand.
If Ripple officially settles with the SEC by the end of the year, analysts believe liquidity could skyrocket. Institutions could rush in. XRP could officially shed its “security” doubts. That would be the signal BlackRock is waiting for, and when they move, it will be loud and massive.
The XRP price today, at the time of writing, is hovering around $2.2, but this could be just the calm before the storm. Ripple’s real-world use cases are expanding, especially in remittance and cross-border payments. Every piece is falling into place, except for that final SEC ruling.
Until then, XRP is like the Dr. Pepper of crypto, beloved by many but not available on every shelf yet.
In the end, the real question isn’t if a BlackRock XRP ETF will happen. It is how soon and how big it will be when it finally does.
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