BlackRock, the global investment giant, has made a strategic decision to steer clear of launching a Ripple XRP ETF (exchange-traded fund).
The primary reason behind this decision hinges on the ongoing regulatory ambiguity surrounding XRP.
No Plans to Launch Ripple ETF
According to Fox Business senior reporter Charles Gasparino, BlackRock’s opposition to an XRP ETF lies in the ongoing Securities and Exchange Commission (SEC) vs Ripple lawsuit. Judge Torres’ recent classification of XRP as a “regulatory gray area” – not squarely fitting into the security or non-security category – adds layers to this complexity.
This legal ambiguity poses a significant challenge for financial institutions. Indeed, these prioritize regulatory compliance and risk management in their operations.
Still, Ripple CEO Brad Garlinghouse maintains SEC Chair Gary Gensler is a “political…
