BlackRock Rules Out XRP & Solana Spot ETFs Amid Low Demand
BlackRock has confirmed it will not file for a spot XRP ETF or a Solana (SOL) ETF after the Ripple-SEC settlement. A spokesperson told The Block that these altcoin ETFs are not on its roadmap due to limited client demand and strict eligibility rules. This reinforces BlackRock’s focus on its existing spot Bitcoin (BTC) and Ethereum (ETH) ETFs in the US.
Executives including Head of Digital Assets Robert Mitchnick and CIO Samara Cohen highlighted barriers such as regulatory criteria, liquidity requirements and investor profiles that make a spot XRP ETF or Solana ETF unlikely. Bloomberg analyst Eric Balchunas adds that expanding beyond BTC and ETH could yield diminishing returns for fund providers.
While the SEC continues to review various altcoin ETF proposals, the lack of support from major asset managers like BlackRock reduces near-term catalysts for XRP and SOL. Traders should note that the absence of an XRP ETF and a SOL ETF may limit price upside but could also curb volatility, keeping attention on future regulatory developments and other ETF filings.
Bearish
By ruling out spot XRP and Solana ETFs, BlackRock removes a major potential source of inflows and demand for these altcoins, dampening bullish catalysts. In the short term, this neutral stance may reduce volatility but limits buying pressure. Over the longer term, the absence of a BlackRock-backed ETF keeps XRP and SOL at a disadvantage compared to Bitcoin and Ethereum funds, which could weigh on their price performance until other ETF approvals or market drivers emerge.