BlackRock adds new Bitcoin ETF while XRP ETF debate heats up

BlackRock is expanding its crypto exchange-traded fund offerings as its new iShares Bitcoin Premium Income ETF prepares to begin trading on Nasdaq.

The launch follows regulatory approval from the U.S. Securities and Exchange Commission and marks the latest addition to the asset manager’s growing lineup of digital asset investment products.

At the same time, discussion of a possible XRP-focused fund has resurfaced after market participants noted increasing institutional interest in the XRP Ledger. While BlackRock has not announced any plans for an XRP ETF, remarks from industry observers have fueled debate about the possibility as adoption of XRPL-related products continues to develop.

BlackRock launches new Bitcoin income ETF

Nasdaq has confirmed that BlackRock’s iShares Bitcoin Premium Income ETF will begin trading on June 16 under the ticker BITA. The confirmation came shortly after the SEC approved the fund’s notice of effectiveness on June 15. BlackRock submitted the filing for the product on June 12.

According to Bloomberg ETF analyst Eric Balchunas, the fund aims to deliver annual yields of 15% to 25% while retaining exposure to a large portion of Bitcoin’s price gains.

Unlike a spot Bitcoin ETF, BITA will not be a legal trust that owns the actual Bitcoin. Rather, the fund will focus its investment on IBIT shares. It will also sell call options against those holdings to realize income from option premiums.

The final prospectus states that the sponsor fee will be 0.65% per year. The fee will be charged daily and collected four times a year. Other costs include brokerage commissions, financing costs, legal costs, and the expense of option trading activity.

The debut came earlier than some market participants anticipated. Balchunas had previously said the ETF could start trading later in the week.

XRP ETF discussion emerges alongside institutional interest

As BlackRock expands its Bitcoin-related offerings, attention has shifted toward XRP after comments from Digital Ascension Group Chairman Jake Claver. In a recent interview, Claver said he believes BlackRock could eventually pursue an XRP ETF.

Claver further said that he believes there will be greater usage of the XRP Ledger in the next few months. He cited real-time settlement projects underway and said that, for widespread adoption to be practical, more expensive XRP valuations might be required.

His remarks coincided with those of analyst Ali Martinez, who said XRP could break above $1.30. But BlackRock has not released any filings or applications for an XRP ETF into the public domain.

Growing activity around the XRP Ledger

Discussion surrounding a possible XRP investment product comes as interest in the XRP Ledger continues to expand among financial institutions.

Earlier this year, XRPL Commons director Odelia Torteman said several major financial firms had shown interest in the XRP Ledger network. She highlighted features designed for regulated institutions and pointed to the network’s ability to support cross-asset transactions.

Other firms, as highlighted earlier by Cryptopolitan, such as Mastercard, BlackRock, and Franklin Templeton, had investigated “some parts” of the XRP Ledger ecosystem, Torteman said. She added that institutions were also evaluating various tools, including the decentralized exchange and automated market-making features of XRPL.

Apart from this, Ripple has released new AI tools associated with XRPL. Last week, the company also unveiled an AI Starter Kit for developers to create agent-based payment applications on the network. Ripple also announced support for the X402 protocol, which will enable AI agents to transact with XRP and RLUSD.

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