BlackRock’s $9 Trillion Gamble: Inside the Rumored XRP ETF Play

Wall Street’s quiet giant makes waves again—this time with crypto. BlackRock’s alleged XRP ETF exploration sends shockwaves through a market hungry for legitimacy.

The $9 trillion question: Is this institutional adoption or just another asset manager chasing hype? Sources whisper, traders speculate, and XRP bulls dust off their moon memes.

Behind the scenes: ETF approval odds hinge on regulatory chess moves. SEC skepticism clashes with BlackRock’s lobbying firepower—a classic finance cage match.

Bonus cynicism: Nothing accelerates innovation like the scent of fresh management fees. Stay tuned for the next episode of ’Wall Street Discovers Blockchain.’

BlackRock is well known for its Bitcoin and ethereum ETFs, which have already attracted billions in investments. Currently, BlackRock holds about $39.33 billion in Bitcoin and $4.18 billion in Ethereum, and they are chosen on the fact that the cryptocurrencies have a clear regulatory path. 

However, the situation with XRP is quite different. XRP is still tied up in legal issues with the SEC, making it a risky choice for companies like BlackRock that prefer regulated assets. Whilst, the firm has previously confirmed that it has not filed any official paperwork on an XRP ETF. There was another rumor back in April 2025 concerning a similar XRP Trust filling which was later confirmed to be fake. 

Also, Larry Fink, BlackRock’s CEO, has spoken openly about Bitcoin’s future but has never mentioned XRP. BlackRock’s head of ETFs has also said the company is not investing in altcoins like XRP. The widely shared $9 trillion figure is actually BlackRock’s total assets under management and not a crypto investment.

Still, some people think BlackRock might be involved with XRP indirectly, through tokenized assets or blockchain partnerships. But there is no proof or official filing to back this up. For now, BlackRock is sticking to Bitcoin and Ethereum, which have cleared most regulatory hurdles.

Meanwhile, the SEC is expected to rule on Franklin Templeton’s planned spot XRP ETF, the Franklin XRP Fund, on June 17, 2025. This deadline follows an extension for more review time. However, approval this month seems unlikely, according to market watchers.

Eric Balchunas, a senior ETF analyst at Bloomberg, said XRP has a 65% chance of ETF approval. He noted that XRP futures ETFs are gaining more assets than some other altcoin ETFs. Still, he warned not to read too much into early numbers.

On the prediction platform Polymarket, there is only a 32% chance of approval by July 31, but an 83% chance before the end of 2025. Analysts expect approval by October 2025 at the latest, as the SEC now has a pro-crypto chair, Paul Atkins.

Another event fueling this rumor is the fact that SEC recently held crypto roundtables with BlackRock, Fidelity, Franklin Templeton, and others. These meetings may signal a positive shift toward approving altcoin ETFs, including XRP.

Nate Geraci, president of ETF Store, believes an XRP ETF is likely in the future. In a recent post, he said, “Seems obvious spot XRP ETF approval simply a matter of time IMO… Largest ETF issuers aren’t going to ignore this.” He points out that XRP is the third-largest non-stablecoin crypto by market cap and expects big firms like BlackRock to get involved eventually.

Also Read: Bitcoin price will Hit $250K by 2025: Robert Kiyosaki