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A crypto analyst has revealed a timeline for BlackRock, an American multinational investment company, to potentially announce its launch of an XRP Exchange Traded Fund (ETF). The analyst has highlighted key factors that could contribute to the approval of an XRP ETF, including the official resolution of Ripple’s ongoing battle with the United States Securities and Exchange Commission (SEC).
BlackRock XRP ETF Expected Weeks After SEC Battle
In an X (formerly Twitter) post, crypto analyst Ashley Prosper posed a series of compelling questions about BlackRock’s timing for potentially launching an XRP ETF. Delving into the speculation of whether the financial investment company would launch an ETF before or after the conclusion of the SEC and Ripple court case, Ashley shared his anticipation, predicting that “the announcement would come within weeks of the court case ending.”
The analyst’s prediction adds an extra layer of anticipation in the already closely watched legal battle between Ripple and the SEC. Earlier in 2020, the US SEC filed a lawsuit against Riople, accusing the crypto payments company of allegedly violating securities laws by selling XRP in an unregistered security offering.
Despite the backlash and developmental setbacks Ripple experienced due to the lawsuit, the company has been actively defending its position against the SEC’s claims. Notably, Ripple gained a partial victory in July 2023 when Judge Analisa Torres ruled that programmatic sales of XRP were not considered securities.
This decisive ruling has led various XRP supporters to believe that a potential XRP ETF would be launched following the resolution of the legal battle. BlackRock currently stands as one of the key contenders speculated to launch an XRP ETF, considering the fact that the investment company had been a leading player in the previous Spot Bitcoin ETF approval race.
XRP ETF Projected To Rival BlackRock’s Bitcoin ETF Inflows
While BlackRock has not made any official statements confirming or dismissing the possibilities of introducing an XRP ETF, a prominent XRP supporter has projected that an XRP ETF could potentially generate more funds for BlackRock than its Spot Bitcoin ETF.
In a recent X post, XRPcryptowolf expressed strong confidence that if BlackRock were to launch an XRP ETF, it could outperform its Spot Bitcoin ETF. As of last week, Spot Bitcoin ETFs saw a record weekly inflows of $2.45 billion, with BlackRock’s iShares Bitcoin ETF (IBIT) leading the charge with about $1.6 billion, according to Coinshares data.
This resounding success in BlackRock’s Bitcoin ETF performance underscores the growing demand for the investment company’s ETF by institutional investors. Given BlackRock’s prominent position in the Spot Bitcoin ETF market, a potential launch of an XRP ETF could attract substantial inflows, drawing the attention of investors and traders from different regions around the globe.
Bulls begin to show strength | Source: XRPUSD on Tradingview.com
Featured image from Inside Bitcoins, chart from Tradingview.com
