BlackRock May Leverage XRP ETF Delays as SEC Extends Review

• The US SEC has postponed its decision on Canary Capital’s and Grayscale’s XRP ETF applications, sparking speculation about BlackRock’s potential strategy.
• Franklin Templeton has applied for an XRP ETF, with Coinbase Custody Trust Company set to manage digital asset security.
• XRP price surged 5% following ETF-related developments, with open interest rising to $3 billion and significant short liquidations recorded.

The U.S. Securities and Exchange Commission has postponed its decision on several cryptocurrency exchange-traded fund applications, including those for XRP from Canary Capital and Grayscale. Additionally, the SEC delayed its review of Solana ETF filings from Canary, VanEck, and other issuers. The regulatory agency’s cautious approach continues to impact the timeline for new crypto investment products.

BlackRock’s Strategic Considerations

Bill Morgan, a distinguished legal expert, has pointed out that BlackRock, the leading asset management firm, could receive positive effects from these postponements. BlackRock might seize the longer review time to submit its XRP ETF and gain leadership over the XRP ETF sector. No official indication about such a shift has been disclosed by BlackRock to date.

The financial services company Franklin Templeton submitted its formal application for an XRP ETF under present regulatory monitoring situations. Coinbase Custody Trust Company functions as custodian to secure XRP holdings belonging to the fund according to its official filing. The crypto ETF market experiences a major development through this advancement that has attracted additional asset managers interested in XRP exposure.

Market Reactions and Price Movements XRP responded positively to the ETF-related developments, posting a 5% gain. Open interest in XRP derivatives increased by 2.28% to reach $3 billion. Additionally, liquidation data shows that the total market-wide liquidations hit $13.85 million within 24 hours, with short positions accounting for over $7 million of that total.

Legal Uncertainty and Future Outlook

Market analysts are closely watching legal proceedings related to Ripple. Many believe that major asset managers, including BlackRock , may wait for a resolution in the Ripple lawsuit before moving forward with XRP ETF applications. Some analysts anticipate a possible settlement before Ripple’s appellate brief submission on April 16, 2025, which could influence the SEC’s stance on approval.

Technical Analysis Suggests Strength in XRP

Market experts have noted how XRP demonstrates strong resistance in the current market instability. The online crypto commentator Mikybull Crypto found an upward trend indication through bullish divergence analysis on the daily XRP chart. Market stabilization will trigger a major price increase for XRP according to the analyst.

Market expectations about XRP remain influenced by both changes in regulations and institutional interest in the cryptocurrency. Investors together with analysts actively observe SEC actions because institutional investors work to establish crypto ETF products in addition to their current operations.