# Experts Forecast: BlackRock Could Introduce Solana and XRP ETFs
Nate Geraci, the ETF Store’s chairman, suggests a high likelihood that BlackRock will seek approval for Solana and XRP exchange-traded funds (ETFs).
According to a JPMorgan study published in Fortune magazine in January, a Solana ETF could attract between $3 billion and $6 billion in investments within 6 to 12 months, based on the adoption rates of Bitcoin (BTC) and Ethereum (ETH) ETFs. An XRP ETF could attract $4 billion to $8 billion. The U.S. Securities and Exchange Commission (SEC) has already received applications from several asset management companies, including Grayscale, Bitwise, Franklin Templeton, VanEck, Canary Capital, and 21Shares, indicating potentially significant institutional interest in Solana and XRP ETFs. Geraci predicted in an X post on March 14 that BlackRock will not allow competitors to control ETFs for two of the top five non-stablecoin assets. He expects a Solana (SOL) application shortly, with a Ripple (XRP) application likely after the SEC lawsuit is resolved.
According to an X post on March 12 by FOX Business reporter Eleanor Terrett, the SEC and Ripple are currently seeking a resolution. Settlement talks are said to be focused on changing penalties and complying with the SEC’s recent policy changes. Despite rising interest in an XRP ETF, XRP’s regulatory position remains unknown. In 2020, the SEC sued Ripple Labs, claiming that XRP was sold as an unregistered security.
In July 2023, a judge determined that while XRP’s institutional sales were considered unregistered securities offerings, the token was not always a security when traded on the secondary market. The SEC, however, continues its legal struggle, though the case may soon be resolved.
Terrett noted that ongoing discussions center on whether Ripple should still be penalized under new SEC leadership, given the broader effort for regulatory clarity in the cryptocurrency industry.
Should XRP be reclassified as a raw material, it would unlock the path for the approval of a Ripple-based Exchange Traded Fund (ETF). This is due to the fact that commodity-based ETFs are more widespread and possess a more distinct regulatory route in comparison to security-based crypto ETFs.
