Nate Geraci, the President of The ETF Store and a prominent voice in the ETF arena, has expressed his renewed confidence in the anticipated approval of a spot XRP exchange-traded fund (ETF) in the United States. Speaking on X, Geraci indicated that the resolution of the ongoing Ripple lawsuit is pivotal to this expectation. He stated, “Ripple lawsuit coming to an end… Seems obvious spot XRP ETF approval is simply a matter of time, in my opinion. And yes, I expect BlackRock, Fidelity, etc., to all be involved. XRP is currently the 3rd largest non-stablecoin crypto asset by market cap. The largest ETF issuers aren’t going to ignore this.”
Geraci, who had previously forecast a spot ETF filing from BlackRock by mid-March, reiterated the growing likelihood that major asset managers will explore top altcoins beyond just Bitcoin and Ethereum. “I’m ready to log a formal prediction… BlackRock will file for both Solana and XRP ETFs. Solana could happen any day. Think XRP once the SEC lawsuit is concluded,” he added, emphasizing the strategic positioning of these companies in the market.
Indeed, BlackRock, currently the leader in managing assets for both spot Bitcoin and spot Ethereum ETFs, is not likely to sit idle while competitors attempt to launch ETFs on two of the top five non-stablecoin crypto assets without a vigorous fight. Geraci has also mentioned his expectation that BlackRock will pursue crypto index ETFs, which could significantly expand their offering in the crypto space, especially in light of Fidelity’s recent filing for a spot Solana ETF.
Geraci’s optimistic perspective aligns closely with recent developments from Ripple’s Chief Legal Officer, Stuart Alderoty. In what he termed his “last update on SEC v. Ripple ever,” Alderoty confirmed that the US Securities and Exchange Commission (SEC) has agreed to drop its appeal against Ripple. Consequently, Ripple will retain the majority of the fine previously imposed. “Ripple has now agreed to drop its cross-appeal. The SEC will keep $50 million of the $125 million fine (currently held in an interest-bearing escrow), with the balance returned to Ripple,” Alderoty stated.
As promising as this update is, attorney Fred Rispoli, who advocates for XRP, has cautioned that the case will not be entirely resolved until the SEC’s formal vote and further filings are completed. Rispoli estimates that it may take up to one month for the Commission to vote and another month for Judge Torres to finalize lifting the injunction. If everything proceeds smoothly, the matter could reach resolution within approximately 60 days.
This resolution is crucial, as the formal end of the SEC lawsuit against Ripple could eliminate significant barriers for institutional products linked to XRP, enhancing the viability of Geraci’s prediction regarding the spot XRP ETF. At press time, XRP is valued at $2.4495, maintaining a critical position above its trend line.
