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Institutional demand for XRP could surge if Ripple’s US expansion gains traction, supporting a move to new highs.
ETF Store President remarked on the prospects of an XRP-spot ETF, stating:
“Seems obvious spot XRP ETF approval simply matter of time IMO. And yes, I expect BlackRock, Fidelity, etc to all be involved. XRP currently 3rd largest non-stablecoin crypto asset by market cap. Largest ETF issuers aren’t going to ignore this.”
BlackRock XRP-Spot ETF Crucial for Supply-Demand Trajectory
Ripple CEO Brad Galinghouse recently hinted at a potential collaboration with BlackRock (BLK) to launch a US-based XRP-spot ETF. BlackRock’s involvement could significantly impact market supply-demand trends. Since launching a BTC-spot ETF in January 2024, the iShares Bitcoin Trust (IBIT) has seen net inflows of $39,834 million, playing a key role in the market’s success.
Excluding IBIT, the US BTC-spot ETF market would have recorded net outflows of $3,604 million. Demand for BlackRock’s BTC-spot ETF has helped rebalance BTC’s supply-demand dynamic, contributing to its surge to a record high of $109,312.
The hype surrounding a potential US XRP-spot ETF market has intensified recently. Crypto.com CEO Kris Marszalek reportedly said:
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