BlackRocks iShares Bitcoin Trust (IBIT) ETF continues to lead the crypto ETF race. After 8 days of straight positive inflows, the largest digital asset fund manager now holds a whopping 800,000 Bitcoin (BTC), with the assets under management (AUM) now surpassing $100 billion.
Undeniably deemed the quickest-growing exchange-traded fund (ETF) of all-time, BlackRock recently added a heavy portion of assets to the Ether (ETH) ETF as well. On Thursday, the digital asset behemoth purchased $149.9 million worth of Ethereum (ETH), likely preceding a grandiose institutional adoption.
Are XRP & SOL Included In BlackRock’s ETF Bonanza?
Aside from Ethereum (ETH), the other two largest altcoins up for consideration are Ripple (XRP) & Solana (SOL). However, the candidacy has seen several setbacks, including the recent shutdown of the United States (USA) government. This implies that the late October – early November deadlines for a bunch of Ripple & Solana ETF items will not be met.
Moreover, BlackRock is currently counting themselves out of the crypto ETF race beyond Bitcoin (BTC) & Ethereum (ETH). While explicitly stating that now Ripple or Solana-based ETF products are up for consideration in the short-term, multiple hedge fund competitors have stepped in to take the role, while Bloomberg’s top ETF analysts give 95% odds of approval.
With 21Shares, Bitwise, Grayscale, Franklin Templeton & Canary Capital in this fierce XRP competition, financial market analysts such as Nate Geraci expect Grayscale to get the nod from the United States Securities and Exchange Commission (SEC) first.
On the other hand, VanEck has the highest chances of succeeding with a Solana ETF, as it was the first to file and has the largest projected inflows of up to $1 billion. VanEck’s version of SOL ETF includes staking functionality, which is yet to be cleared by the top financial cops.
On The Flipside
- BlackRock’s stance on XRP for exchange-traded funds could switch over time, given that regulatory hurdles clear.
Why This Matters
The ETF-driven crypto market rallies just produced a new all-time high for Bitcoin (BTC), which is typically followed by an altcoin response.
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People Also Ask:
iShares Bitcoin Trust hit $100B AUM, holding 800,000+ BTC. It’s the fastest ETF to reach this, showing huge crypto demand.
SEC rulings are due now (SOL Oct 10, XRP Oct 18-24). Approval odds are 98%+, with Grayscale and VanEck leading filings.
No plans yet—BlackRock’s focused on BTC/ETH but might jump into other cryptos later if competitors’ ETFs pop off.
XRP ($2.82) could hit $8 with $4-8B inflows; SOL price ($230) may reach $300-500 with $1.5B. Volatility’s real—DYOR!
Approvals possible this week (SOL now, XRP soon). Trading could start in weeks if SEC green-lights. Stay tuned with DailyCoin!
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