The possibility of BlackRock launching a spot XRP ETF has become a hot topic in the XRP community. Analysts argue that entry by the world’s largest asset manager could significantly boost institutional adoption, liquidity, and long-term price behavior for XRP.

Hints from Executives Fuel Speculation
Analyst Jake Claver highlighted that Ripple CEO Brad Garlinghouse and BlackRock CEO Larry Fink have repeatedly refused to comment on a potential XRP ETF, responding with “I can’t talk about that.” Such secrecy often points to NDAs or closed-door discussions already taking place, fueling further speculation.

A Suspicious Filing That Sparked Rumors
Speculation first intensified in November 2023 when an iShares XRP Trust filing appeared in Delaware. Although Bloomberg labeled the document “fake,” neither Ripple nor BlackRock publicly confirmed or denied it. Analysts note that unusual silence in such cases often indicates activity behind the scenes rather than a simple error.

Potential Impact of a BlackRock XRP ETF
Claver argues that a BlackRock filing would represent one of the largest endorsements XRP has ever received, signaling to institutions that XRP is a credible, long-term financial asset—similar to Bitcoin’s institutional recognition in 2023. Vanguard’s possible involvement could further amplify demand, as both firms control hundreds of institutional counterparties. The result could be billions of XRP removed from circulation, dramatically accelerating institutional adoption.

Price Implications: How High Could XRP Go?
According to Claver, ETF-driven demand alone could push XRP toward $10–$12, even without macro tailwinds or additional utility demand. If multiple ETFs launch in quick succession, XRP could experience a “snowball effect,” attracting rapid inflows of institutional capital and potentially reshaping its market dynamics.