Why BlackRock Hasn’t Launched an XRP ETF? Expert Explains

Abs Nassif, host of the Good Evening Crypto podcast, recently shared insights on a potential connection between BlackRock and the XRP Ledger.

In The XRP Podcast with Paul Barron, Nassif explored why a BlackRock XRP spot ETF has not yet appeared and what this could mean for the market.

Nassif noted that BlackRock can significantly change the market. “If they had launched an XRP spot product, that would have been the largest XRP spot product in the market. It would have validated the token, would have given people a sense of direction,” he said.

Why Hasn't BlackRock Launched an $XRP ETF…

— Good Evening Crypto (@AbsGEC) March 5, 2026

XRP ETFs and the Market Context

Last year, several spot XRP ETFs launched, opening new avenues for investors to access the token. These products provided exposure to XRP’s price movements without requiring direct ownership. However, Nassif believes BlackRock’s strategy goes beyond creating another ETF.

He referenced comments from Matt Hougan, who indicated that within the next three to twelve months, BlackRock plans to tokenize all its ETF products on public ledgers. This includes stocks, bonds, and commodities like gold. Nassif suggested this development could create a far larger impact than a single XRP spot ETF.

Strategic Silence from Leadership

Larry Fink, CEO of BlackRock, has not publicly discussed XRP in interviews, and Ripple CEO Brad Garlinghouse has similarly avoided commenting.

Nassif interprets this silence as an indication that significant plans may be unfolding behind the scenes. Garlinghouse stated, “We think it’s inevitable for the XRP community overall,” referencing BlackRock’s potential involvement indirectly.

Tokenization as a Bigger Opportunity

Nassif theorized that the focus may be on tokenizing real-world assets through the XRP Ledger rather than launching a traditional ETF. He believes Ripple and BlackRock are jointly working on a framework for large-scale adoption of tokenized financial products, using the XRP Ledger as one of several chosen blockchains. Such a move could integrate XRP into a broader ecosystem of tokenized assets, potentially offering liquidity and visibility far beyond what a spot ETF could provide.

This perspective suggests that BlackRock’s influence could reshape how institutional investors interact with digital assets. Tokenized assets would allow investors to access a wide range of financial products on a blockchain while maintaining regulatory compliance. By leveraging the XRP Ledger, BlackRock could demonstrate its confidence in the network’s capabilities and reliability.