BlackRock Drops Another Bitcoin ETF, But No Sign Of An XRP ETF, What’s Going On?

bitcoinistPublished on 2026-01-28Last updated on 2026-01-28

Abstract

BlackRock, the world's largest asset manager, has filed for a new Bitcoin Premium Income ETF, its third crypto-related fund after its existing Bitcoin and Ethereum ETFs. The new product aims to track Bitcoin's price while generating income through writing call options. Notably, BlackRock continues to avoid filing for single-asset ETFs tracking other cryptocurrencies like XRP or Solana, despite their market success. While XRP and Solana ETFs from other issuers have gathered significant assets, BlackRock remains focused on BTC and ETH. Analysts suggest the firm may eventually explore a multi-asset crypto index ETF instead of individual funds, with some expressing surprise that Solana isn't being considered given institutional interest.

BlackRock, the world’s largest asset manager, has filed for another Bitcoin ETF. This comes as the crypto ETF issuer continues to confine itself to the BTC and ETH ecosystems and has opted not to file for crypto funds such as the XRP ETF.

BlackRock Files For New Bitcoin ETF

BlackRock filed an S-1 form for its Bitcoin Premium Income ETF. According to the filing, the Bitcoin ETF will seek to track BTC’s price while providing premium income through an actively managed strategy of writing call options on IBIT shares. From time to time, the Trust may also write call options on ETP indices that track spot BTC investment products to generate premium income.

This proposed Bitcoin premium Income ETF will mark BlackRock’s third major crypto ETF offering, as it already offers a spot Bitcoin ETF and an Ethereum ETF. The world’s largest asset manager has, to date, opted against filing for an XRP ETF or funds that track other crypto assets, despite moves by other issuers such as Grayscale and Bitwise.

It is worth noting that last year, BlackRock confirmed that it has no plans to file for a Solana or XRP ETF at this time, opting to focus on its existing Bitcoin and Ethereum ETFs. The asset manager is currently the largest BTC and ETH ETF issuer, with net assets of $69 billion and $10 billion, respectively, according to SoSoValue data.

Meanwhile, other crypto ETFs have seen considerable success despite BlackRock’s hesitation to file for these funds. SoSoValue data shows that the XRP ETFs as a group already boast a net asset of $1.38 billion since launching in November. This accounts for just over 1% of the altcoin’s market cap. Solana ETFs have net assets of almost $1.10 billion, accounting for 1.50% of SOL’s market cap.

BlackRock May Explore A Basket Product Down The Line

Bloomberg analyst James Seyffart said during an interview with market expert Nate Geraci that BlackRock appears content to stick with just Bitcoin and Ethereum ETFs. However, he alluded to his previous statement that the asset manager could launch a basket product or an active ETF at some point.

This could take the form of a crypto index ETF, which provides exposure to multiple crypto assets rather than a single asset. Such a move will be similar to Ark Invest’s recent filing for a CoinDesk 20 ETF. Cathie Wood’s firm offers only a spot Bitcoin ETF but is now looking to provide exposure to other assets through an index fund, rather than filing for a spot XRP ETF or other individual crypto funds.

Meanwhile, Seyffart made a case for a Solana ETF over an XRP ETF, stating that it is surprising that BlackRock hasn’t explored SOL. This came as he described BTC, ETH, and SOL as the ‘big 3’ in terms of crypto assets that institutional investors are looking to gain exposure to.

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Related Questions

QWhat is the name of the new Bitcoin ETF that BlackRock has filed for, and what is its primary investment strategy?

ABlackRock has filed for a Bitcoin Premium Income ETF. Its primary strategy is to track Bitcoin's price while generating premium income through an actively managed strategy of writing call options on IBIT shares and, at times, on ETP indices that track spot BTC investment products.

QHow many major crypto ETF offerings does BlackRock currently have, and which cryptocurrencies do they focus on?

ABlackRock currently has three major crypto ETF offerings. They are a spot Bitcoin ETF, an Ethereum ETF, and the newly filed Bitcoin Premium Income ETF. The firm focuses exclusively on Bitcoin and Ethereum.

QAccording to the article, what was the total net asset value of BlackRock's Bitcoin and Ethereum ETFs as per SoSoValue data?

AAccording to SoSoValue data, BlackRock's Bitcoin ETF has net assets of $69 billion, and its Ethereum ETF has net assets of $10 billion.

QWhat alternative type of crypto ETF did Bloomberg analyst James Seyffart suggest BlackRock might launch in the future instead of individual asset ETFs like an XRP ETF?

AJames Seyffart suggested that BlackRock could launch a basket product or an active ETF in the future, such as a crypto index ETF that provides exposure to multiple crypto assets, similar to Ark Invest's filing for a CoinDesk 20 ETF.

QDespite BlackRock's hesitation, what are the net assets of the existing XRP and Solana ETF groups mentioned in the article?

AXRP ETFs as a group have net assets of $1.38 billion, and Solana ETFs have net assets of almost $1.10 billion.

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