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Saturday 5th of April 2025 09:30:44

BlackRock Spotted Buying XRP and Solana ETFs, Insider Claims

In a shocking revelation, a Wall Street insider has come forward claiming that BlackRock, the world's largest asset manager, has been quietly buying up exchange-traded funds (ETFs) linked to Ripple's XRP and Solana's SOL cryptocurrencies.

According to the insider, who wishes to remain anonymous, BlackRock has been making significant purchases of the funds in recent months, sparking speculation about the company's intentions and potential impact on the cryptocurrency markets.

The insider claims that BlackRock has been buying up shares of ETFs that track the price of XRP and SOL, with the latter being a relatively new and rapidly growing cryptocurrency. The information has sent shockwaves through the cryptocurrency community, with many wondering what could be driving BlackRock's interest in these particular assets.

While BlackRock has not publicly confirmed the purchases, the news has sent the price of XRP and SOL surging. XRP, which has been struggling to regain its footing in recent months, saw its price jump by over 10% in the hours following the news, while SOL surged by over 15%.

The move is seen as a significant development in the rapidly evolving cryptocurrency landscape, with many experts predicting that institutional investors like BlackRock will play a key role in shaping the future of the industry.

BlackRock's involvement in the cryptocurrency space is not new, with the company having launched a cryptocurrency ETF in collaboration with the New York Stock Exchange (NYSE) in 2020. However, the recent purchases of XRP and SOL ETFs mark a significant expansion of the company's footprint in the space.

As the cryptocurrency markets continue to evolve and mature, the involvement of major institutional players like BlackRock is likely to have a profound impact on the industry's trajectory. With the company's reputation for being a savvy and shrewd investor, many are eagerly watching to see what the future holds for XRP, SOL, and the broader cryptocurrency space.