At a Glance
- Five spot XRP ETFs already trade, holding $1.5 billion in combined assets
- Google’s Gemini sees a moderate-to-high chance BlackRock will launch its own version in 2026
- The SEC-Ripple court ruling removed a major regulatory hurdle
- Why it matters: Institutional money keeps flowing into XRP products, tempting the world’s largest asset manager to join the race
BlackRock has stayed on the sidelines of the XRP ETF race-so far. With five competing funds already commanding $1.5 billion in assets and regulatory clouds lifting, industry watchers say the world’s largest asset manager could finally jump in later this year.
Current XRP ETF Lineup
Canary Capital fired the starting gun on November 13, listing the first-ever spot XRP ETF under ticker XRPC. Four rivals followed within weeks:
| Issuer | Ticker | Exchange | AUM (Jan 9) |
|---|---|---|---|
| Canary Capital | XRPC | NASDAQ | $375M |
| Bitwise | XRP | NYSE | $300M |
| Franklin Templeton | XRPZ | NYSE | $279M |
| Grayscale | GXRP | NYSE | $271M |
| 21 Shares | TOXR | CBOE | $246M |
The total-$1.47 billion-shows steady inflows until early January. SoSoValue data reveals a $150 million pullback since January 5, yet the category remains one of the fastest-growing crypto ETF niches.
Why 2026 Looks Different
Google’s Gemini model told News Of Losangeles that conservative giants like BlackRock now face “removed” regulatory blockers. The catalyst: a federal court clarified in August that XRP is not a security when traded on secondary markets, ending the SEC’s multi-year case against Ripple.
Gemini’s verdict: moderate-to-high odds of a BlackRock launch in 2026, driven by “fear of missing out” after rivals vacuumed up over $1 billion in inflows.
ChatGPT gave a similar forecast, pegging the probability at up to 50 percent for a late-2026 debut.
ETH ETFs Bleed While XRP Gains
Spot ETH ETFs have lost assets since October 2025, highlighting the contrast. Marcus L. Bennett noted that XRP ETFs, though smaller in absolute terms, have maintained stronger momentum, reinforcing the business case for BlackRock to diversify beyond its current Bitcoin and Ethereum offerings.
Bottom Line
With regulatory clarity in place and more than $1.5 billion already parked in rival products, BlackRock has both the green light and the financial incentive to enter the XRP ETF arena before 2026 ends.
