In a landmark moment for the world of cryptocurrencies, Larry Fink, CEO of BlackRock, has sparked speculation about the launch of an exchange-traded fund (ETF) based on XRP. During an interview with FOX senior correspondent Charles Gasparino, Fink made comments that caught the attention of the cryptocurrency community, especially at a time of growing interest in crypto-centric ETFs following the approval of a Bitcoin ETF in the United States.
BlackRock, a giant in the investment sector, has been closely watched by the crypto community. Asked about the possibility of an XRP ETF, Fink responded: “I can’t talk about that.” Although vague, his statement sparked speculation among XRP enthusiasts, with many interpreting it as an indication of BlackRock’s consideration of a possible XRP ETF.
🚨”The economy is in a very good position and will get stronger.”
🚨”I believe I could have been more literate when I was talking about ESG .I…
— Charles Gasparino (@CGasparino) January 12, 2024
This interest is reinforced by the company’s previous decision to explore an Ethereum-based ETF. Analysts such as Tony Edward of the Thinking Crypto podcast noted Fink’s caution in his statements, suggesting a cautious approach to not influence the XRP market prematurely.
The discussion about an XRP ETF is not limited to BlackRock. An executive at Valkyrie, authorized to list a Bitcoin ETF, also mentioned the possibility of an XRP ETF, although he did not confirm the company’s plans. Additionally, Grayscale’s recent reinstatement of XRP signals growing interest in this asset.
However, there are divergent views within the crypto community. Versan Aljarrah, founder of Black Swan Capitalist, for example, argues that XRP’s design as a currency makes its inclusion in an ETF less relevant, raising concerns about institutional corruption in crypto ETFs.
In the market, the response to Fink’s comment and the broader discussion about an XRP ETF reflects the growing intersection between traditional finance and cryptocurrencies. BlackRock’s consideration of an XRP ETF marks a significant shift in the perception of cryptocurrencies by major financial players. The reaction from the XRP community and market analysts also highlights the cryptocurrency market’s sensitivity to news and speculation.
At the time of publication, the price of XRP was listed at US$0.5742, down 4% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.