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The Ripple–SEC case is over, clearing regulatory hurdles for XRP.
Multiple firms have filed for XRP ETFs, with SEC decisions due in October 2025.
BlackRock has no XRP ETF plans yet, but its entry could trigger a major breakout.
As August 2025 comes to a close, XRP has once again become the center of attention in global crypto markets. The possibility of a BlackRock-backed iShares XRP Trust is being widely discussed by investors, analysts, and traders. Even though no official filing has been made, the debate about whether such a product could cause a breakout in the market is growing stronger. XRP is moving through a critical phase shaped by legal clarity, rising speculation about exchange-traded funds (ETFs), and contrasting sentiment between institutions and retail traders.
One of the most important turning points for XRP this year was the official end of its long legal battle with the US Securities and Exchange Commission (SEC). In early August 2025, both Ripple and the SEC dismissed their remaining appeals, finally bringing an end to a case that had dragged on since 2020. The result confirmed that XRP is not considered a security when traded on the secondary market.
This legal clarity was a breakthrough. For years, institutional players had stayed away from XRP because of uncertainty about its regulatory status. Once the case was resolved, XRP’s price jumped more than 13 percent in just 24 hours, climbing above $3.30.
Spot markets recorded inflows of more than $42 million, and trading activity in the derivatives market also picked up, with strong interest around strike prices between $3.10 and $3.20. The ruling has effectively removed the biggest obstacle holding XRP back from wider institutional adoption.
Despite the excitement, BlackRock has maintained a cautious position. The world’s largest asset manager has repeatedly stated that it does not have immediate plans to launch an XRP ETF or any similar investment product. BlackRock has also denied reports claiming it holds large XRP reserves.
The company’s approach is consistent with its overall strategy in crypto markets. BlackRock has focused on Bitcoin and Ethereum because these assets are more liquid, have stronger regulatory clarity, and attract the most institutional demand. Its iShares Bitcoin Trust has gathered around $58 billion in inflows, while the Ethereum ETF has collected about $13 billion.
These successes show the scale at which BlackRock can move markets. If the firm eventually does decide to launch an iShares XRP Trust, the impact would almost certainly be significant. But for now, it is waiting on further liquidity, stronger demand, and an even clearer regulatory environment before entering this space.
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While BlackRock is staying on the sidelines for now, several other firms have already taken steps toward launching XRP investment products. Bitwise, 21Shares, WisdomTree, Grayscale, and Canary Capital have all filed applications for XRP spot ETFs. These proposals are currently under review by the SEC, with key decisions expected in October 2025.
Bloomberg Intelligence has reported that seven XRP-related ETFs are waiting for regulatory approval. If these products are approved, it could mark the beginning of a new wave of investment opportunities for institutional investors. For many, the launch of altcoin ETFs is seen as the next big stage of crypto’s integration into traditional financial markets.
The broader market for crypto ETFs has grown rapidly in recent years. Inflows into Bitcoin and Ethereum ETFs show that institutional investors now view cryptocurrencies as a legitimate part of their portfolios. Research from major financial institutions suggests that crypto ETFs could soon overtake precious metals ETFs in North America by the end of 2025, becoming the third-largest asset class after equities and bonds.
Another important factor shaping this growth is politics. Analysts believe that if the United States adopts a more crypto-friendly administration, approval of altcoin ETFs will likely speed up. In this scenario, XRP could benefit from an environment that favors innovation and reduces regulatory barriers.
XRP’s price movements in 2025 have been shaped by both optimism and caution. Following the SEC case resolution, the coin rose sharply but soon stabilized between $3.00 and $3.12. This zone has become a key area of support and resistance as traders look ahead to the SEC’s ETF decisions in October.
From a performance perspective, XRP has been one of the standout assets this year. It has gained about 42 percent year-to-date, outperforming Bitcoin’s 20 percent and Ethereum’s 35 percent. However, institutional participation has remained relatively low. Data from Coinbase shows a decline in institutional holdings of XRP, suggesting that most of the buying pressure is coming from retail investors rather than large funds.
This divide has been highlighted by market analysts. Some have described XRP as the “most loved coin by retail traders” but at the same time “the most disliked by institutions.” This dynamic could shift if ETFs are approved, since they would provide institutions with an easier and regulated way to gain exposure to XRP without directly holding the asset.
The question now is whether a BlackRock iShares XRP Trust could ignite a breakout in the market. History suggests the answer could be yes. BlackRock’s entry into Bitcoin and Ethereum ETFs changed the game for those assets, driving billions of dollars in inflows and boosting their prices. If the same pattern is repeated with XRP, the effect would likely be dramatic.
Still, timing is everything. BlackRock’s public position shows that it is not yet ready to move. The firm tends to follow client demand and liquidity conditions rather than speculation. Until XRP builds stronger institutional demand and proves its market depth, BlackRock may remain focused on Bitcoin and Ethereum. In the meantime, smaller asset managers could lead the way if their ETF filings are approved.
While the future looks promising, some risks could slow down XRP’s breakout. If the SEC delays or rejects the pending ETF applications in October, market optimism could fade. Macroeconomic conditions, such as rising interest rates or tighter liquidity, could also reduce investor appetite for risk assets like cryptocurrencies.
Another factor is the balance between retail and institutional interest. Even if ETFs are approved, XRP could continue to be driven mostly by retail traders, which might limit its ability to compete with Bitcoin and Ethereum in terms of large-scale institutional adoption.
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XRP is standing at a critical crossroads. The end of its legal battle with the SEC has given it a new lease on life, removing the uncertainty that once held it back. Prices have climbed, retail enthusiasm remains strong, and ETF applications from multiple firms are waiting for approval.
BlackRock’s potential entry into the XRP market continues to capture attention, but for now, the company has made it clear that it is not rushing into a new product. If that changes, and an iShares XRP Trust is launched, the result could be a turning point not just for XRP but for the entire altcoin sector. Until then, the fate of XRP in 2025 will depend on regulatory decisions in the coming months, the pace of institutional adoption, and the balance between speculation and real utility.
