BlackRock Eyes Crypto Dominance: XRP and Solana Spot ETFs Imminent, Say Analysts

Wall Street's sleeping giant just woke up hungry. BlackRock—the $10 trillion asset manager that moves markets with a whisper—is reportedly circling XRP and Solana for its next crypto plays. Sources say spot ETFs could drop before Q4.

Why This Matters

When BlackRock sneezes, traditional finance catches cold. Their Bitcoin ETF approval earlier this year flooded the market with institutional cash. Now, targeting two altcoins with regulatory targets on their backs? That's either genius or hubris.

The Regulatory Tightrope

XRP's legal limbo and Solana's SEC scrutiny won't make this easy. But since when has BlackRock cared about 'difficult'? The firm's lobbying machine could bulldoze roadblocks—or trigger fresh crackdowns.

Market Tsunami Ahead

Solana's tech wonks and XRP's army of retail bagholders are already celebrating. Smart money's watching the domino effect: Coinbase listings, CME futures, and the inevitable copycat funds from Fidelity and friends.

Just don't expect Wall Street to understand the 'use cases.' They'll buy the hype, pump the charts, and cash out before reading the whitepaper—classic finance, but with blockchain buzzwords.

In brief

• ETF analyst Nate Geraci predicts BlackRock will file for spot XRP and Solana ETFs, potentially waiting for final regulatory clarity before moving.
• BlackRock already dominates the crypto ETF market with the largest Bitcoin and Ethereum spot funds.
• XRP’s recent legal victory over the SEC and investor demand for altcoin ETFs could accelerate new filings.

Building on Bitcoin and Ethereum success

Geraci, co-founder of the ETF Institute, shared his insights on the Thinking Crypto podcast released August 6. Known for his coverage of the ETF landscape, Geraci said he believes BlackRock will eventually file for both spot XRP and solana ETFs. Geraci said:

We’re getting closer to the finish line and they still haven’t filed. They could swoop in at the last minute and file for these.

BlackRock already dominates the crypto ETF space with the largest spot Bitcoin ETF and the largest spot ethereum ETF on the market. Geraci argued that stopping at only those two assets would be out of step with the firm’s broader strategy of offering index-based exposure across multiple asset classes.

“It would be premature to declare definitive winners in crypto,” he said, adding that offering products for other major chains like XRP and Solana could be a way to capture additional market segments while defending BlackRock’s lead.

Profit-driven moves

Geraci emphasized that BlackRock’s decisions are ultimately about profitability, not whether a cryptocurrency is decentralized or “trustworthy.”

That’s not what they’re in the business of determining per se. At the end of the day, it comes back to making money.

Investor interest appears to back that approach. Futures-based XRP and Solana ETFs have already seen “decent demand,” Geraci said, a sign that spot versions could be met with strong appetite once approved.

XRP’s regulatory boost

Momentum for XRP received a major boost on August 7 after Ripple and the U.S. Securities and Exchange Commission moved to dismiss their appeals in the years-long legal battle over the token. The dismissal ended one of the highest-profile regulatory cases in crypto history and sent XRP prices higher on renewed market optimism.

With legal clarity improving and institutional players seeking yield and diversification, speculation is mounting that BlackRock’s next ETF filings could extend beyond Bitcoin and Ethereum. If Geraci’s prediction turns out to be accurate, spot XRP and Solana funds may soon be part of the asset manager’s growing crypto lineup.

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