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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
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Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Sep 26, 2025 03:28 UTC
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Ripple News: BlackRock Digital Head Explains Why Firm Has Not Filed for an XRP ETF
BlackRock weighs XRP & Solana ETFs cautiously, focusing on client demand, liquidity, and long-term strategy before any new crypto products launch.
Stablecoins, tokenization, and money market funds remain BlackRock’s top priorities as it explores crypto growth beyond Bitcoin and Ethereum ETFs.
BlackRock’s strong entry into crypto with its Bitcoin (IBIT) and Ethereum ETFs has raised expectations that the firm could soon expand into other assets like XRP or Solana. But Robbie Mitchnick, Global Head of Digital Assets at BlackRock, explained that the decision is not that simple.
In an interview with Nate Geraci, Mitchnick said product development is guided first by client demand. The firm evaluates whether there is enough interest from institutional and retail investors before launching a new ETF. He added that factors like market capitalization, liquidity, maturity, and the strength of the investment thesis all play an important role. BlackRock also considers how a product fits into long-term portfolio strategies. This measured approach, he explained, means the company is still reviewing opportunities rather than rushing into filings for XRP or Solana.
Tokenization Still in Early Stages
Beyond ETFs, Mitchnick addressed the future of tokenization. He said that tokenization remains in its early stages, with adoption still limited across most asset classes. The clearest use case so far, he said, has been money market funds. Tokenized versions of these funds, combined with stablecoins, allow investors to earn full yield while maintaining instant liquidity. He described this as a meaningful unlock compared to traditional systems, but emphasized that other asset classes still need clear solutions to real problems.
Stablecoins as Focus
Mitchnick also highlighted BlackRock’s role in stablecoins. The firm partnered with Circle in 2021 to manage reserves for USDC and made a direct investment. He said stablecoins remain a critical part of the financial system’s evolution, offering faster settlement and broader access to liquidity.
For now, BlackRock appears focused on building where client demand is strongest while continuing to explore tokenization and stablecoin adoption. An XRP ETF may come in the future, but only when the firm sees the right conditions.
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FAQs
BlackRock’s decision is driven primarily by strong client demand, along with factors like the crypto asset’s liquidity, maturity, market capitalization, and its fit within long-term portfolio strategies.
The firm’s Global Head of Digital Assets, Robbie Mitchnick, explained they take a measured approach, still reviewing opportunities based on client interest and the asset’s overall strength and maturity.
BlackRock is a key player, having partnered with Circle to manage the reserves for the USDC stablecoin since 2021, which they view as critical for the financial system’s evolution.
It means that an ETF for XRP or Solana will only be launched when BlackRock observes the right conditions, including sufficient client demand and the asset meeting their strict standards.
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