While many asset management giants like Grayscale and ProShares have launched applications for spot exchange-traded funds (ETFs) targeting altcoins such as XRP and Solana, Blackrock has remained on the sidelines. The question remains – why hasn’t Blackrock filed an application for an XRP ETF? analysts believe there are five key factors at play: Firstly, insufficient customer demand outside of Bitcoin and Ethereum makes a direct investment in other cryptocurrencies challenging. Regulatory uncertainty surrounding XRP and other altcoins adds complexity to the process, while competition from existing applications within the space also contributes to the lack of urgency. The difference between market expectations and internal data, coupled with the concentration of trading volume for XRP primarily residing in Asia further complicates Blackrock’s decision.