BlackRock Sets XRP ETF Aside, Here's What's Happening
2024-12-13
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According to several sources on the X social media platform (widely famous as Twitter in the past), BlackRock wealth management giant does not intend to launch any new ETF based on XRP or on any other cryptocurrency.
No XRP ETF from BlackRock coming soon
Chinese cryptocurrency journalist Colin Wu has cited Bloomberg ETF analyst Erich Balchunas sharing recent news broken by the head of BlackRock’s ETF department to the financial world and the crypto community.
According to Jay Jacobs from the wealth management giant, at the moment, the spot Bitcoin and Ethereum ETFs remain the company’s main focus since these products have reached only a few of their customers. Therefore, BlackRock intends to prioritize the expansion of the coverage of these two ETFs and does not plan so far to launch any new ETFs based on altcoins.
Jay Jacobs, head of BlackRock's ETF department, said that currently Bitcoin and Ethereum ETFs only reach a few people, and the company will focus on expanding the coverage of these two types of ETFs rather than launching new altcoin ETFs. It is currently expected that the United…
Wu reminded the community that United States regulators, and the SEC in particular, are expected to pass ETFs, like SOL and XRP, by the end of next year. On Nov. 13, a false filing reportedly from BlackRock to the SEC emerged with a request for permission to launch and trade an XRP exchange-traded fund – an iShares XRP Trust.
However, BlackRock was quick to refute those rumors and the fake filing made on its behalf.
As reported by U.Today, at the end of November, asset manager WisdomTree submitted a real filing for a spot XRP ETF. Aside from that one, several other finance managers have done the same this year – Bitwise, 21Shares and Canary Capital.
Ripple moves 99 million after shoveling 580 million XRP
Whale Alert crypto tracker has reported that earlier today, an anonymous transaction of an impressive 99,000,000 XRP took place, transferring the funds from one unknown wallet to another. At the time of the transfer, that amount of XRP was equal to $234,448,405 in fiat.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 99,999,980 #XRP (234,448,405 USD) transferred from unknown wallet to unknown wallethttps://t.co/yGSvXZDAeG
However, data revealed by Bithomp showed that the source of this 99 million XRP was a wallet affiliated with the Ripple blockchain heavyweight. The destination was the U.S.-based Bitgo crypto exchange and a custodial platform for financial institutions.
A day before, the same data source spread the word about two mammoth amounts of XRP shoveled by Ripple. Those transfers carried 380,000,000 and 200,000,000 XRP – the equivalent of roughly $1.5 billion in fiat.
Over the past week, XRP has gained roughly 22.8% and is currently trading at $2.36.