ETF Store President Nate Geraci predicted on Aug. 27 that BlackRock will eventually expand its spot crypto ETF lineup beyond Bitcoin and Ether, citing the growth of competing altcoin products and BlackRock's broad fund business.
BlackRock's Crypto ETFs Manage Nearly $70 Billion
BlackRock currently offers three U.S. spot crypto products through iShares. Its Bitcoin fund, IBIT, held $60.52 billion in net assets as of Aug. 26. The non-staking Ethereum fund, ETHA, held approximately $8.26 billion. BlackRock's newer staking-enabled Ethereum product, ETHB, managed about $832.7 million and reported a 30-day staking reward rate of 1.73%. Together, the products held roughly $69.6 billion.
BlackRock also launched BITA, a Bitcoin premium-income fund that holds Bitcoin exposure and sells call options. It does not expand BlackRock's underlying spot exposure beyond Bitcoin. This dominance in crypto ETFs follows BlackRock's recent move to cut its IBIT Bitcoin swap minimum to $1M, making institutional access easier.
BlackRock Has Not Filed for an Altcoin ETF
A review of public SEC records found no BlackRock registration statement for a spot XRP, Solana or other single-altcoin ETF as of Aug. 27. No BlackRock crypto-index ETF filing was located either. The absence of a filing does not prove BlackRock has rejected those products internally. Asset managers typically keep potential products confidential until registrations, exchange applications or company announcements become public.
Geraci predicted BlackRock would capitulate at some point and launch additional spot crypto ETFs. That statement is a forecast. Geraci did not cite private discussions with BlackRock, regulatory documents or an undisclosed product plan supporting it. Competitors already offer broader crypto exposure, with seven U.S. spot XRP ETFs holding approximately $1 billion in assets during August.
Competitors Already Offer Broader Crypto Exposure
BlackRock's position contrasts with rival issuers that have moved into XRP, Solana and multi-asset products. Spot XRP ETFs accumulated about $1.57 billion in cumulative net inflows by Aug. 24. BlackRock was not among their issuers. Spot Solana products have also established a U.S. market, with Solana ETFs crossing $1 billion in combined assets led by products from Bitwise and Fidelity.
The SEC has also approved broader structures. The approval of T. Rowe Price's active crypto ETF allowed potential exposure to Bitcoin, Ether, XRP, Solana and other qualifying assets. Client demand will determine BlackRock's next move. Any new fund would likely require a registration statement, exchange listing documents and SEC review before trading. The commercial case would depend on client demand, liquidity, custody support, market surveillance and expected fund size. For now, Geraci's prediction remains unconfirmed.
