Andrew Parish, the founder of X3 and a frequent source of high-level information about X, has stoked the crypto community with its latest claim that BlackRock, the world’s largest asset manager, “will ultimately surrender and provide both XRP and Sol ETF.”
Parish informed him that a source close to the issue told him “the crypto lock was opened and the application was expected for 2025,” but BlackRock’s leadership said “we may not be the first, but we offer clients a choice” and “included in crypto asset class products.”
This is not the first time the parish has shared doubts of insider knowledge that it turns out to be accurate. On March 17th, he posted an update citing “two SEC sources.” He believes Ripple Case is “very close to the ending,” adding that these sources “to get serious product considerations” and “it has been significantly reduced, significantly reduced, significantly reduced.” He also emphasized, “The new leadership knows about the case, and how they handle it is a big deal. It’s a precedent.”
Just two days after Parish released the information, Ripple CEO Brad Garlinghouse used X to announce that the Securities and Exchange Commission had dropped its appeal and lend credit to Parish’s track record. It is also worth noting that, as the parish revealed, the Securities and Exchange Commission actually significantly reduced fines from $125 million to $50 million.
Will BlackRock release Spot XRP ETF?
The parish’s claims about the provision of future spot XRP ETFs may seem bold, but he is not alone in his assessment. Nate Geraci, president of ETF Store, host of ETF Prime and co-founder of ETF Institute, likewise predicts BlackRock will seek to expand its crypto footprint beyond Bitcoin and Ethereum.
Geraci said three weeks ago, “We are ready to record our formal forecasts… BlackRock will file both Solana and the XRP ETF,” and “Solana should always consider the SEC lawsuit to be over.” According to Geraci, BlackRock’s motivation lies in its current control by Bitcoin and Ether ETF assets.
He believes that competitors are reluctant to allow intrusions with major Altcoin ETFs.
Geraci’s reasoning highlights a notable shift from the previously cautious BlackRock stance on additional cryptocurrency ETFs. Last July, the company’s chief information officer, Samara Cohen, told Bloomberg that BlackRock had no immediate plans to deploy Altcoin products beyond Bitcoin and Ethereum. BlackRock Theme and Active ETF US Head Jay Jacobs strengthened that perspective in December, saying the company is primarily focusing on providing existing crypto investments.
Additional remarks from the parish reveal that he is hearing predictions from a similar timeline and unnamed “ETF executive knowledge.” In one update posted two weeks ago, Parish noted that it predicted approval of various spot Crypto ETFs starting in the second quarter, including the expected time frames for “XRP Early Q2”, “LTC Early Q2”, “Sol Late Q2”, and “HBAR Early Q3”, pointing to the possibilities of “basket” Crypto ETF Products and the potential of short funds. His sources predict that “2025 will be the year of Crypto ETF,” he said.
At press time; XRP traded for $2.04
Featured images created with dall.e, charts on tradingview.com
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