BLK<\/a>) remains notably absent. In the US BTC-spot ETF market, BlackRock\u2019s iShares Bitcoin Trust (IBIT) has reported total net inflows of $39,669 million since launch, offsetting $22,526 million in outflows from Grayscale\u2019s Bitcoin Trust (GBTC).<\/p>\nImportantly, without IBIT\u2019s inflows, the US BTC-spot ETF market would have posted net outflows of $3.6 billion\u2014potentially weighing on Bitcoin demand. This underscores the influence BlackRock could have on an emerging XRP-spot ETF market.<\/p>\n
Institutional demand for XRP-spot ETFs will likely be crucial as it has for BTC, which rallied in early 2024 on strong ETF inflows.<\/p>\n
A BlackRock filing for an XRP-spot ETF could change the narrative. It is plausible that BlackRock will file once the SEC formally dismisses its appeal.<\/p>\n<\/div>\n
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[ad_1] Acting SEC Chair Mark Uyeda, Crypto Task Force Head Hester Peirce, and Commissioner Caroline Crenshaw must vote on an appeal withdrawal. The upcoming Closed Meeting provides an opportunity for a vote. Although unlikely, XRP could face selling pressure if the SEC makes no formal announcement on March 27. XRP-Spot ETFs: BlackRock Missing from the Pack An official court filing confirming the withdrawal would open the path for XRP-spot ETF approvals. Currently, issuers such as 21Shares, Bitwise Invest, Canary Funds, Grayscale, and WisdomTree have filed applications for XRP-spot ETFs. While an XRP-spot ETF market could fuel institutional demand for XRP, BlackRock (BLK) remains notably absent. In the US BTC-spot ETF market, BlackRock\u2019s iShares Bitcoin Trust (IBIT) has reported total net inflows of $39,669 million since launch, offsetting $22,526 million in outflows from Grayscale\u2019s Bitcoin Trust (GBTC). Importantly, without IBIT\u2019s inflows, the US BTC-spot ETF market would have posted net outflows of $3.6 billion\u2014potentially weighing on Bitcoin demand. This underscores the influence BlackRock could have on an emerging XRP-spot ETF market. Institutional demand for XRP-spot ETFs will likely be crucial as it has for BTC, which rallied in early 2024 on strong ETF inflows. A BlackRock filing for an XRP-spot ETF could change the narrative. It is plausible that BlackRock will file once the SEC formally dismisses its appeal. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":39822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-39821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t