- BlackRock’s XRP ETF proposal faces criticism for prioritizing institutional control over user utility and decentralized access.
- Holding XRP directly enables remittances, staking, and smart contracts—functions an ETF would exclude for price-only exposure.
BlackRock, managing over $11.6 trillion in assets, has expressed interest in launching an XRP ETF, joining nine other firms that filed similar proposals. While this move initially appears favorable for XRP investors, critics argue it may prioritize institutional gains over broader cryptocurrency adoption.
Vandell Aljarrah, co-founder of Black Swan Capitalist, contends that BlackRock’s ETF aims to centralize control rather than enhance access. “An XRP ETF restricts real utility” he notes. Unlike holding XRP directly—which enables remittances, staking, and smart contracts—ETF investors gain only price exposure, lacking custody or transactional capabilities.
BlackRock clearly wants an XRP ETF.
But before you celebrate & assume it’s a win for crypto, you need to understand.
This isn’t about democratizing access to XRP or unlocking utility for investors.
It’s about control & profit.
(FYI) ETFs can be subtly manipulated.
When you… pic.twitter.com/hImPWfcjYt
— Vandell | Black Swan Capitalist (@vandell33) May 12, 2025
Market sentiment, however, reflects optimism. Polymarket data shows a rise in approval odds for an XRP ETF, now at 81% by late 2025, up from 77%. Bets on a July 2024 approval remain split, with 44% favoring the timeline.
The debate centers on trade-offs: ETFs simplify institutional entry but strip XRP’s functional benefits. For now, the proposal underscores tensions between mainstream financial integration and cryptocurrency’s decentralized ethos.
XRP is currently trading at $2.61, marking a +10.36% daily increase, and continuing its impressive bullish trajectory. Over the last week, XRP has gained +21.20%, with a +29.24% surge in the last month. On a broader scale, the token is up +269.44% over six months and an astonishing +416.83% year-over-year, reflecting renewed investor confidence and powerful macro tailwinds.
From a technical standpoint, XRP has broken past a key resistance zone near $2.35–$2.40, flipping it into support. If bulls maintain control, the next logical target is $2.88, with possible extensions to $3.40, XRP’s all-time high.
The RSI remains elevated, suggesting overbought conditions, but volume and momentum continue to favor bulls. Immediate support lies around $2.40, which needs to hold to confirm the breakout’s sustainability.
The latest bullish trade is supported by Ripple’s partial SEC settlement, growing speculation around a spot XRP ETF, and Ripple’s strategic acquisitions like Hidden Road and a rumored deal with Circle. The XRP Ledger is also showing strong network activity, with over 4 million transactions processed over just three days, solidifying its utility in cross-border payments and tokenization.
