BlackRock hasn’t filed for a spot XRP ETF — yet — but mounting signals suggest the world’s largest asset manager is edging closer to that move.
Why the chatter now
BlackRock set the template for the institutional push into spot crypto ETFs with the iShares Bitcoin Trust (IBIT), which became the most-traded spot Bitcoin ETP and topped $100 billion in assets by early 2026. The firm then added spot Ethereum exposure and launched the iShares Staked Ethereum Trust (ETHB), which began trading on Nasdaq on March 12, 2026. Those successes make BlackRock the benchmark many watch when new crypto ETFs are expected.
Recent public comments, not filings, are fueling speculation. Robert Mitchnick, Head of Digital Assets at BlackRock, told CNBC’s Crypto World that the firm isn’t rushing into new crypto ETFs but is actively evaluating options. He said “overwhelmingly, the interest” remains in Bitcoin and Ethereum, though there are “pockets of interest” in other assets. BlackRock is watching maturity, liquidity, scale and clear use cases — and applying a strict standard for what qualifies for an iShares ETF.
How XRP stacks up
XRP already meets many of the criteria Mitchnick described: broad liquidity across global markets, a large market cap, and clear use cases in payments, settlement and tokenized assets. That alignment explains why XRP has attracted filings from other institutions — Canary, Bitwise, Franklin Templeton, Grayscale and 21Shares have all put forward spot XRP ETF products in the U.S.
So why no BlackRock filing yet?
BlackRock has not publicly confirmed that XRP meets its internal threshold for an iShares ETF. Institutional caution and high internal standards for scale and commercial viability appear to be the main reasons for the holdout.
Market expectations and timing
Canary Capital CEO Steven McClurg believes BlackRock could file for a spot XRP ETF by late 2026 or 2027. He argues BlackRock will likely wait until net inflows into XRP ETF products reach roughly $3 billion — about three times current levels — before making a commercial play.
Bottom line
BlackRock’s past ETF rollouts and its public commentary make an XRP application plausible, but the firm is maintaining a methodical, criteria-driven approach. The coming months of fund flows and market maturation for XRP — more than any hint or rumor — will likely determine whether BlackRock takes the leap.
Read more AI-generated news on: undefined/news
