BlackRock Rules Out XRP & SOL Spot ETFs; Approval Odds 90%

BlackRock has confirmed it does not plan to launch a spot XRP ETF or SOL spot ETF in the near term, despite strong market speculation. A spokesperson told The Block that regulatory clarity remains a priority before filing any new products. Since March and April, futures-based XRP and SOL ETFs have attracted over $1 billion in new capital, but BlackRock’s focus stays on Bitcoin and Ethereum products. Meanwhile, other asset managers—ProShares, WisdomTree, 21Shares, Canary and Bitwise—have already filed for a spot XRP ETF with the SEC. Bloomberg analysts now assign a 90% approval odds for spot ETFs on XRP, DOGE and ADA by the end of 2025. Canada’s 3iQ has beaten the U.S. to market, listing spot XRP ETFs (XPRQ, XPRQ.U) on the Toronto Stock Exchange in June, amassing around $50 million in assets. Ripple’s recent legal victory over the SEC sent XRP up 11% to $3.33, while Ethereum gained 7% to $3,908 ahead of network upgrades and proposed ETH-based ETFs. Traders should temper short-term expectations for BlackRock filings but watch ongoing legal and regulatory developments for potential long-term catalysts.