The market for XRP ETFs has already secured full approval from the US Securities and Exchange Commission (SEC), with six products now managing more than $1 billion in combined assets. Yet one major player remains absent: BlackRock.
According to Canary Capital Chief Executive Officer Steven McClurg, that may not last forever. He believes the world’s largest asset manager could file for a spot XRP ETF by late 2026 or early 2027, assuming current trends continue.
XRP ETF Assets Must Hit $3B Before BlackRock MovesAccording to McClurg’s outlook, BlackRock is unlikely to move unless certain market signals become undeniable. One of the clearest indicators would be sustained growth in existing XRP ETF assets.
While assets peaked at $1.6 billion in January 2026 and have since settled near $1 billion, a rise toward $3 billion or more would demonstrate robust and durable demand.
Competitive dynamics could also accelerate the timeline. BlackRock is not typically the first to enter a new segment, but it rarely allows rivals to dominate uncontested.
McClurg noted that it may not be long before BlackRock feels pressure to respond if another large firm files for a spot XRP ETF. A rival’s move could force BlackRock’s hand sooner than its current projected window.
Ripple ConnectionThat integration suggests a degree of familiarity and comfort with Ripple-linked infrastructure, even in the absence of an XRP ETF. Such ties could potentially shorten the distance between monitoring the market and formally entering it, should demand accelerate.
As of this writing, XRP was trading at $1.34, marking an 8% drop over the past week.
Featured image from OpenArt, chart from TradingView.com
