Expert-Reviewed Insights on the Evolving ETF Landscape
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Future Prospects for BlackRock in the XRP ETF Arena
Steven McClurg, CEO of Canary Capital, recently suggested that BlackRock might enter the spot XRP ETF landscape by late 2026. Rather than a sudden change in strategy, McClurg believes this move would be driven by increasing demand in the market. Speaking with Crypto Sensei on January 27, McClurg highlighted how the market trends are leaning towards broadening the scope of ETF offerings beyond Bitcoin, as traditional ETF issuers explore non-Bitcoin products.
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BlackRock’s Potential Move into XRP and Solana ETFs
“It’s quite possible that BlackRock could file for an XRP or even a Solana ETF by late 2026 or early 2027,” McClurg noted. “With firms like Fidelity and Franklin Templeton already in the competitive space, BlackRock might not be far behind. Invesco has recently filed for a Solana ETF, indicating the growing interest in diverse crypto assets. Given time, we can expect XRP to be part of this trend.”
McClurg explained that the approach to ETFs is straightforward: issuers respond to client demand and the liquidity of market structures. Once a solid commercial case is established, they expand their range of products. “They want to see demand and a substantial market cap, and it’s only a matter of time before we reach that point for XRP,” McClurg explained, indicating that the path to a BlackRock filing is driven by consistent investor interest rather than shifting narratives.
Canary’s Strategic Approach to Token Filings
McClurg further detailed Canary’s approach to product development, emphasizing that it’s largely influenced by perceived demand. “We prioritize areas where we see demand,” he said, acknowledging that sometimes the firm takes calculated risks on emerging tokens. For instance, Canary considered a filing for Axelar but ultimately decided against it due to low demand and market downturns.
Shifting Institutional Focus in the Crypto World
McClurg also shared insights into how institutional investors are adjusting their focus. Many pension and sovereign wealth funds are beginning to view Bitcoin as a stable allocation similar to gold. However, discussions around Ethereum often hit a roadblock. “The feedback we get about Ethereum is that it’s outdated, and institutions are keen on what’s new,” McClurg stated. He added that some institutions are bypassing Ethereum, favoring networks known for efficiency and low cost, such as the XRP Ledger, Hedera, and Solana, alongside its competitors like Injective.
Partnerships and Innovations in the Banking Sector
In terms of U.S. bank adoption, McClurg foresees banks forming partnerships with specific crypto protocols rather than consolidating around a single system. He predicts that Ripple will lead the way, followed by Hedera and Solana. McClurg also highlighted Ripple’s stablecoin RLUSD as a potential game-changer, predicting significant growth once integrated with partner systems. “I see RLUSD having the potential to surpass USDC,” he speculated.
Regulatory Clarity and Its Impact on the ETF Market
McClurg emphasized the importance of regulatory clarity for the timing of ETFs and other financial instruments. “The specifics of the regulation don’t concern me as much as knowing the boundaries. Once I understand the rules, I can strategize and expand my business without constant worry,” he expressed, referring to the ongoing Clarity Act discussions.
As of the latest update, XRP is valued at $1.75.
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