The crypto world is buzzing with speculation about BlackRock and XRP. Recent data shows a huge drop in Coinbase’s XRP holdings – and it’s sparking some wild theories.
Coinbase’s XRP: A Massive Drop
Coinbase’s XRP stash has plummeted. We’re talking a massive decrease, from over 780 million XRP down to around 199 million – a 57% drop in August alone! This has everyone talking. Is Coinbase selling off? Or is something else going on?
The BlackRock Connection?
One popular theory: BlackRock is quietly scooping up XRP through Coinbase Custody. Crypto analyst Crypto X AiMan suggests this, pointing out several past connections between BlackRock and XRP. He argues the Coinbase drop isn’t a bad sign, but rather a shift in custody – possibly to BlackRock.
BlackRock’s Denials… But Still…
BlackRock has officially denied filing for a Spot XRP ETF. However, the timing of the Coinbase drop, coupled with BlackRock’s existing partnership with Coinbase, is fueling speculation. BlackRock has embraced Bitcoin and Ethereum ETFs, so an XRP ETF doesn’t seem so far-fetched.
The XRP ETF Hype
The rumors alone have created a lot of excitement. Several other asset managers have already filed for Spot XRP ETFs, and many believe a BlackRock filing could be imminent.
The Bottom Line
Right now, the link between Coinbase’s reduced holdings and BlackRock is just speculation. But with XRP being a major cryptocurrency, the possibility of a Spot XRP ETF hitting the market soon is definitely worth considering.