Ripple and the U.S. Securities and Exchange Commission (SEC) have ended their long legal battle by filing a joint dismissal. This victory opens the door for new opportunities for Ripple and its cryptocurrency, XRP.
Now, many expect BlackRock, the world’s largest asset manager, to file for a spot XRP exchange-traded fund (ETF). Analysts see this as a smart move to expand BlackRock’s crypto offerings beyond Bitcoin and Ethereum.
Nate Geraci, president of The ETF Store, said BlackRock was likely waiting for this legal outcome before filing for an XRP ETF. He added it would not make sense for BlackRock to ignore crypto assets other than Bitcoin and Ethereum.
Eric Balchunas, senior ETF analyst at Bloomberg, also supports the idea. He gave the XRP ETF a 95% chance of approval, despite some market doubts.
Some challenges remain, like a $125 million fine Ripple must pay, which is currently held in escrow. The money will only go to the U.S. Treasury once all appeals are dropped.
Still, the signs are positive. Bitcoin ETFs have attracted $222 billion since 2024, showing strong institutional interest. Canada’s Purpose XRP ETF had a successful launch with $37 million in inflows.
Market data also shows growing excitement, with an 87% approval chance for a U.S. XRP ETF and a 36% increase in futures trading.
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