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Nate Geraci Sparks Interest in Altcoin ETFs
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Nate Geraci, President of The ETF Store and co-founder of The ETF Institute, has recently stirred discussions regarding the possibility of BlackRock introducing new exchange-traded funds (ETFs) focused on altcoins like XRP and Solana. Through a series of posts on X, Geraci expressed his anticipation that the world’s largest asset manager might soon incorporate these digital assets into its expanding ETF portfolio.
Is a Spot XRP ETF on BlackRock’s Horizon?
Geraci confidently stated, “I’m ready to log a formal prediction… BlackRock will file for both Solana & XRP ETFs.” He suggested that Solana’s ETF could be imminent, while any developments regarding XRP might follow the conclusion of the ongoing SEC lawsuit.
Elaborating on BlackRock’s strategic interests, Geraci noted, “BlackRock currently leads in assets for both Bitcoin and Ethereum ETFs. They are unlikely to let competitors capture the market for two of the top five non-stablecoin crypto assets without a challenge. I also anticipate BlackRock’s move towards crypto index ETFs.”
BlackRock’s Evolving Stance on Crypto ETFs
This prediction marks a notable shift from BlackRock’s earlier stance. In July of the previous year, Samara Cohen, BlackRock’s Chief Information Officer, stated to Bloomberg that the firm had no immediate plans to extend its ETF offerings beyond Bitcoin and Ethereum. By December, Jay Jacobs, BlackRock’s US Head of Thematic and Active ETFs, reiterated that the firm’s focus remained on its existing cryptocurrency products, not on altcoin-based ETFs.
Rising Demand for Altcoin-Based ETFs
Despite these earlier assertions, industry experts have pointed to an increasing demand for altcoin-based exchange-traded products (ETPs), including those for Solana and XRP. According to a report from January by banking giant JPMorgan, the approval of these ETPs could potentially bring in up to $14 billion in the first year alone.
The report estimates that Solana-focused ETPs might attract between $3 billion and $6 billion in assets within 6 to 12 months, while XRP-based products could draw between $4 billion and $8 billion, given a favorable regulatory environment.
SEC Applications and Future Prospects
As of March 13, 2025, nine issuers have submitted applications to the US Securities and Exchange Commission (SEC) for ETFs centered on XRP. These include prominent names such as Bitwise, Canary Capital, 21Shares, WisdomTree, ProShares, Grayscale, CoinShares, Volatility Shares, and Franklin Templeton. Notably, ProShares and Volatility Shares have proposed various ETF models, including short and leveraged options, showcasing a comprehensive approach to cater to diverse investor strategies.
The SEC’s Influence on ETF Launches
A key factor in Geraci’s prediction revolves around the resolution of the SEC’s lawsuit against Ripple Labs. The regulatory scrutiny over XRP’s status has been a significant barrier, and many market analysts believe that a clear outcome could encourage major financial entities like BlackRock to venture into new crypto-focused investment opportunities.
At the time of writing, XRP is valued at $2.31 on the market.
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