BlackRock's Potential Entry into XRP Market May Boost Cryptocurrency

The recent launch of six US-based XRP Exchange-Traded Funds (ETFs) has generated significant interest in the cryptocurrency market. These funds, which include offerings from Franklin Templeton, Grayscale, and Bitwise, have collectively attracted around $1 billion in assets.

However, despite their growing popularity, BlackRock has not yet filed for an XRP ETF. The delay is attributed to the firm's cautious approach, which prioritizes client demand and market conditions before entering new markets.

A report by Standard Chartered predicted that if a heavyweight like BlackRock were to enter the market, it could lead to significant gains for XRP. However, this forecast has been revised downward due to recent ETF outflows and macroeconomic headwinds.