Nate Geraci, one of the leading ETF analysts, has predicted that both BlackRock and Fidelity will join the XRP ETF race.
He is also convinced that the approval of such a product is only "a matter of time."
The confidence stems from the fact that Ripple's legal battle with the U.S. Securities and Exchange Commission (SEC) finally appears to be over after more than four years.
Stuart Alderoty, Ripple's top lawyer, announced that the company was able to significantly cut the fine from $125 million to a mere $50 million. The SEC initially wanted Ripple to shell out a whopping $2 billion, but the company will end up paying only a tiny fraction of the sum.
The injunction that was imposed against Ripple as part of the final judgment is also expected to be dropped at the SEC's request.
Godfrey BenjaminBlackRock has repeatedly rejected the idea of exploring new altcoin ETF offerings in the near future. However, Geraci is confident that the asset management behemoth will not be simply sitting on the sidelines while its competitors launch such products.
As reported by U.Today, Fidelity officially submitted its Solana ETF filing on Tuesday.
Franklin Templeton, which boasts more than $1.5 billion in assets under management, is so far the biggest player to join the XRP ETF race.
Geraci believes that the largest issuers are not going to ignore XRP due to the sheer size of its market cap. XRP remains the third-biggest non-stablecoin cryptocurrency. According to CoinGecko data, its market cap currently stands at $144 billion, which makes XRP bigger than such major companies as Shopify, Citigroup and Boeing.
Vladislav Sopov
Dan Burgin