BlackRock’s Interest in XRP Sparks Controversy and Expert Speculation
The post BlackRock’s Interest in XRP Sparks Controversy and Expert Speculation appeared first on Coinpedia Fintech News
Versan Aljarrah, host of the Black Swan Capitalist podcast, suggests that BlackRock’s pursuit of an XRP-based ETF would be a logical move and he also discussed why XRP proved to be an important element in the finance system.
He noted that “Dismissing their (BlackRock’s) involvement and their interest in XRP is very short-sighted because financial giants are always at the forefront of new technology, and these institutions operate strategically and coordinate their moves very carefully.”
BlackRock’s Fake XRP ETF Filing Controversy
BlackRock, the world’s largest asset manager, has sparked controversy in the crypto community with a fake filing for an iShares XRP ETF. However, the company has not confirmed or denied the document’s authenticity. While industry analysts have debunked the filing, some experts believe that BlackRock could benefit from such a product due to its size and influence in the financial industry.
The potential for an XRP ETF has raised regulatory concerns, but Aljarrah argues that BlackRock’s clout could help it navigate the regulatory landscape and bring XRP to a wider audience. As the crypto market matures, it remains to be seen whether BlackRock will file for an XRP ETF, but Aljarrah’s comments suggest that it is a possibility worth considering.
XRP is pivotal in the whole finance system
In a tweet on X, analyst Aljarrah highlighted the significance of XRP in the growing financial system. He argued that XRP could be the most efficient way to redistribute or consolidate wealth back to the masses.
He also pointed out the close ties between major financial institutions and XRP, with some institutions keeping their relationship with XRP confidential and others openly acknowledging it. He suggested that dismissing BlackRock’s interest in XRP would be a narrow-minded perspective, as it is typical of the strategic moves made by financial giants.
Potential Impact of XRP on the Global Monetary Transfer Market
Aljarrah’s comments come in the wake of reports that global investment management firm BlackRock is exploring the use of XRP for cross-border payments and noted that financial institutions, typically at the forefront of new technology, strategically coordinate their moves. He explained that BlackRock’s interest in XRP is logical, given the asset’s potential to revolutionize the global monetary transfer market.
Filed under: Bitcoin - @ November 15, 2023 3:25 pm