In recent news, BlackRock, the world’s largest asset manager, has confirmed that it has no plans to launch a Ripple (XRP) Exchange-Traded Fund (ETF). This announcement dispels any rumors suggesting an upcoming XRP ETF from BlackRock. The asset management giant has been speculated to be considering an entry into the cryptocurrency market, but it seems that Ripple will not be their choice if they do decide to venture into this sector.
Despite the increasing interest in cryptocurrencies and the growing number of institutions exploring the potential of digital assets, BlackRock remains cautious. The firm’s CEO, Larry Fink, has expressed his skepticism about cryptocurrencies in the past, stating that they have a long way to go before they can be considered a legitimate asset class. This viewpoint aligns with the firm’s recent decision to steer clear of launching a Ripple XRP ETF, further underlining the firm’s conservative stance on digital currencies.
