Viewpoint: Blackrock to Submit XRP Spot ETF Application to SEC

BlockBeats News, August 8th, according to Nate Geraci, President of The ETF Store, after the resolution of the Ripple appeal, BlackRock will submit an XRP ETF application to the U.S. Securities and Exchange Commission to promote cryptocurrency ETF portfolio diversification. Nate Geraci stated that it would be meaningless for BlackRock to ignore other crypto assets, and if BlackRock does not do this, it is like telling the market that only BTC and ETH have value.

Bloomberg's Senior ETF Analyst, Eric Balchunas, commented, "I don't think so. From now on, the law of diminishing returns will come into play. My gut feeling is that an XRP ETF will not be as popular as BTC and ETH."