BlackRock’s Rumored XRP Purchase Via Coinbase Sparks ETF Speculation Frenzy
Wall Street's quiet giant might be making its biggest crypto move yet—and the market's buzzing.
Rumors hit terminal velocity this week as whispers spread through trading desks: BlackRock could be accumulating XRP through Coinbase. The speculation ignited immediate chatter about what comes next.
ETF Filing Inbound?
If true, this isn't just another institutional dip into digital assets. BlackRock doesn't make casual bets—it builds foundations. An XRP accumulation of this scale suggests something bigger brewing behind the scenes.
Market veterans know the pattern: accumulate quietly, file loudly. The firm's previous Bitcoin ETF success blueprint looks ready for another rollout. Regulatory hurdles? Just another spreadsheet to optimize for the world's largest asset manager.
Because nothing says 'financial innovation' like repackaging decentralized assets into traditional wrappers—Wall Street's favorite party trick.
Watch the ticker. Watch the filings. Someone's building a rocket—and they just bought the fuel.
Coinbase’s Holdings And BlackRock Rumor
Recent on-chain data revealed that Coinbase’s XRP stash has decreased drastically since the second quarter of 2025. This decrease has seen the amount of coins held by Coinbase fall from 780.13 million to about 199 million, with a 57% fall in August alone.
Considering the scale of this decline, the movement has stirred up different rumors. Some investors are of the notion that these are actually intended sell-offs by Coinbase, while others are of the notion that they are only strategic transfers involving institutions. crypto analyst Crypto X AiMan addressed the situation in a video posted on the social media platform X, where he noted that Coinbase is not dumping the coin, despite claims circulating within the community.
According to the analyst, the reduction is more likely linked to BlackRock, and his team had previously highlighted multiple BlackRock-XRP connections. As such, he admonished investors not to interpret the drop in Coinbase’s wallets as bearish but rather as a sign of shifting custody arrangements, possibly connected to the world’s largest asset manager.
BlackRock’s Position On An XRP ETF
Comments about BlackRock’s interest in the digital asset are growing louder each day, but it is worth noting that the company has already denied reports of filing for a Spot XRP ETF. A company spokesperson for BlackRock recently clarified that no such product has been filed with the SEC.
Nevertheless, the decrease in Coinbase’s wallets coincides with recent developments involving BlackRock’s partnership with Coinbase, which suggests that an official move relating to a Spot XRP ETF could be in the works. Given BlackRock’s embrace of other crypto ETFs, including Bitcoin and Ethereum, it is only a matter of time before the altcoin joins the lineup.
Although BlackRock has not confirmed any intentions, the rumors alone have increased interest among many holders, as shown by comments on social media. As many as eight other asset managers have filed for a Spot XRP ETF with the SEC, and many investors are still anticipating that a formal filing might arrive sooner than expected.
At the time of writing, the connection between Coinbase’s reduced holdings and BlackRock is speculative, but as the third-largest crypto by market cap, the idea of Spot XRP ETFs hitting the market soon should not be ruled out.
