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**BlackRock Sets XRP ETF Aside, But There’s More to the Story**
In a surprising move, BlackRock, the world’s largest asset manager, has seemingly put aside its plans for a Ripple (XRP) ETF. This decision comes on the heels of recent reports suggesting massive transfers of XRP from an unknown wallet to the US-based BitGo crypto exchange and custodial platform.
According to data revealed by Bithomp, these transfers, totaling 99 million XRP, are actually sourced from a wallet affiliated with Ripple, a prominent blockchain heavyweight. The destination appears to be the aforementioned BitGo platform, which provides custody services for financial institutions.
This latest development raises more questions than it answers. First and foremost, what does this mean for the rumored BlackRock ETF? While we may not have an official confirmation on the matter, one could argue that if Ripple is moving such massive amounts of XRP, it’s possible that these transfers are actually a precursor to the ETF’s launch.
The sudden influx of XRP onto BitGo, coupled with Ripple’s involvement, might be indicative of BlackRock preparing for the potential listing. It’s worth noting that BlackRock has been tight-lipped about its plans regarding an XRP ETF, and we may have to wait for official statements before drawing any definitive conclusions.
As the crypto market continues to evolve, it’s essential to stay up-to-date on the latest developments.
Source: u.today
