tl;dr
BlackRock Inc. has no immediate plans to file for spot Solana or XRP ETFs, focusing instead on expanding its Bitcoin and Ethereum crypto ETFs. Wall Street analysts believe BlackRock could file for more spot crypto ETFs but has not yet done so. Other fund managers have filed for spot XRP and SOL ETFs...
BlackRock Inc. (NYSE: BLK) has announced that it currently has no immediate plans to file for spot Solana (SOL) or XRP exchange-traded funds (ETFs). The company’s focus remains on expanding its existing crypto ETFs, particularly the iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Despite this, Wall Street analysts suggest that BlackRock could have filed for additional spot crypto ETFs beyond Bitcoin and Ethereum if it had chosen to do so. Meanwhile, several other fund managers have already submitted filings for spot XRP and SOL ETFs with the U.S. Securities and Exchange Commission (SEC).
The speculation around BlackRock possibly filing for a spot XRP ETF intensified after the joint dismissal of the Ripple-SEC lawsuit, which had been a long-standing legal battle. This development has sparked renewed industry optimism about the future approval of spot altcoin ETFs.
Looking ahead, the U.S. SEC is anticipated to approve several spot altcoin ETFs by the end of 2025. The agency's active engagement with spot altcoin ETF issuers, particularly those focused on Solana, signals an impending green light for such products. Vivian Fang, a finance professor at Indiana University, highlights a distinction between Bitcoin and Ethereum ETFs versus those tied to Solana and XRP. While both XRP and Solana are domestically developed altcoins, market experts generally expect a Solana ETF approval to precede that of XRP. Fang emphasizes that public blockchain-based altcoins like Solana are more likely to see ETF filings before Ripple's XRP.
The broader market context reflects a growing legal clarity in the U.S. crypto space, which has attracted increasing interest from institutional investors. More corporate entities are diversifying their treasuries by incorporating altcoins, following the notable success of Bitcoin treasury strategies. This regulatory clarity and institutional capital inflow are expected to fuel a vibrant altseason in 2025. Supporting this optimistic outlook, Ethereum’s price recently surged past $4,000 for the first time in eight months, signaling renewed momentum in the cryptocurrency market.