BlackRock has not yet filed for a spot XRP ETF, despite increasing competition from firms like Franklin Templeton, Canary Capital, Grayscale, and Bitwise. Executives have indicated that clearer regulatory guidance and stronger long-term demand are necessary before considering expansion beyond Bitcoin and Ethereum. Meanwhile, Franklin Templeton's XRP ETF (XRPZ) and others have seen significant inflows, highlighting strong institutional interest in XRP. Analysts suggest that if these trends persist, BlackRock might enter the XRP ETF market in 2026 to maintain its competitive position. As of November 25, 2025, XRP was trading at $2.17.