Canary CEO: BlackRock May File for Spot XRP ETF by Late 2026
Canary Capital CEO Steven McClurg said legacy asset managers are moving beyond Bitcoin and Ethereum, and that BlackRock could file for a spot XRP ETF as soon as late 2026 or into 2027. McClurg cited recent moves by Fidelity, Franklin Templeton and Invesco (which has filed for a Solana ETF) as evidence that institutional issuers now evaluate new token ETFs based on client demand, market capitalization, liquidity and market structure rather than sudden shifts in conviction. He said institutional conversations are shifting toward lower-cost, higher-throughput networks — naming XRP Ledger, Hedera and Solana — and noted Injective as a competitor in the Solana space. McClurg expects U.S. banks to support multiple rails (Ripple first, Hedera second, Solana third) and flagged Ripple’s RLUSD stablecoin as a potential breakout product. He tied ETF timing to regulatory clarity (notably the Clarity Act debate), saying firms need clearer rules before deploying significant capital. At press time XRP traded around $1.75. Traders should watch institutional filings, liquidity metrics and regulatory developments as key triggers for price moves and flows into XRP.
Bullish
A spot XRP ETF filing or credible expectation of one is generally bullish for XRP price. ETF approval or large-scale filings signal easier institutional and retail access, which historically increases demand and on-exchange liquidity. McClurg’s comments point to growing institutional interest beyond BTC/ETH, existing legacy issuers filing for non-Bitcoin ETFs, and improving market structure—factors that support sustained inflows. Short-term effects: price volatility around announcements, filings and regulatory developments (Clarity Act debate); traders may see rapid inflows and volatility on positive news or pullbacks on regulatory setbacks. Long-term effects: a confirmed spot ETF would likely increase mainstream legitimacy, deepen liquidity, compress spreads, and attract longer-duration capital from institutions and ETF flows, supporting higher price floors. Risks that could temper the bullish case include regulatory rejection or delays, insufficient on-chain liquidity relative to ETF demand, or broader market risk-off events. Overall, the net impact on XRP itself is expected to be positive if filings progress and regulatory clarity improves.