- Ripple’s decision to drop its cross-appeal against the SEC has sparked optimism among ETF experts, who believe this paves the way for a spot XRP ETF approval.
- ETF analyst Nate Geraci suggests BlackRock could soon join the XRP ETF race, with Bloomberg analysts predicting a 95% chance of ETF approval this year.
As Ripple moves closer to finally putting its long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) behind it, ETF experts believe the stage is now set for the approval of a spot XRP exchange-traded fund (ETF). Nate Geraci, president of The ETF Store, weighed in on the matter, suggesting that Ripple’s decision to drop its cross-appeal could remove a major regulatory roadblock.
In a recent post on X, Geraci noted that the conclusion of the XRP lawsuit effectively “clears the way” for the SEC to begin approving XRP ETF applications. His comments followed an announcement by Ripple CEO Brad Garlinghouse, confirming that the company had officially dropped its cross-appeal against the SEC. The agency is now also expected to drop its own appeal, signaling the end of one of crypto’s most closely watched legal disputes.
Closed chapter on this clears way for spot XRP ETF…
Also clears way for BlackRock to jump in. https://t.co/t3f8ycOeEx
— Nate Geraci (@NateGeraci) June 28, 2025
Garlinghouse called it the closing of a chapter, stating Ripple would now focus on building the “Internet of Value.” The lawsuit had cast a long shadow over XRP and any associated ETF efforts. As Bloomberg analyst James Seyffart previously pointed out, the SEC was unlikely to greenlight an XRP ETF until the lawsuit was fully resolved, citing the need to “untangle that mess” first.
In contrast to XRP, the SEC has recently been more responsive to other crypto ETF proposals. For instance, it requested amendments to Solana ETF filings, a sign it may be preparing to approve them. Now that the XRP lawsuit is effectively resolved, industry watchers expect similar regulatory engagement for XRP-related ETF filings.
Geraci also speculated that the end of Ripple’s legal troubles could prompt BlackRock—the world’s largest asset manager—to jump into the XRP ETF race. Although BlackRock already offers spot Bitcoin and Ethereum ETFs, it has yet to file for any other crypto assets. If it moves forward, it would become the eighth firm to file for an XRP ETF, joining others like Bitwise, which has already filed for XRP, Solana, and Dogecoin ETFs.
The potential for BlackRock to enter the space has stirred excitement in the crypto community. Bloomberg analysts Seyffart and Eric Balchunas recently raised their estimated approval probability for altcoin ETFs to 95%, citing improving dialogue between issuers and the SEC.
With legal clarity in place and institutional interest rising, XRP is now trading at $2.19, reflecting a positive market reaction. If an XRP ETF is approved in the coming months, it could mark a significant milestone for the asset—opening the door to broader adoption and investment at a scale previously constrained by regulatory uncertainty.