The Ripple group is as soon as once more caught up in hypothesis after knowledge confirmed a steep drop in Coinbase’s XRP holdings. Instead of seeing it as a sell-off, some commentators consider the decline could possibly be linked to BlackRock quietly shifting into place by way of Coinbase Custody. The rumors are persistent, though BlackRock has already shot down earlier claims a couple of Spot XRP ETF submitting. Nonetheless, this has left many to marvel if there’s extra taking place behind the scenes than the corporate is prepared to confess.
Coinbase’s Holdings And BlackRock Rumor
Recent on-chain knowledge revealed that Coinbase’s XRP stash has decreased drastically because the second quarter of 2025. This lower has seen the quantity of cash held by Coinbase fall from 780.13 million to about 199 million, with a 57% fall in August alone.
Considering the dimensions of this decline, the motion has stirred up completely different rumors. Some traders are of the notion that these are literally supposed sell-offs by Coinbase, whereas others are of the notion that they’re solely strategic transfers involving establishments. Crypto analyst Crypto X AiMan addressed the scenario in a video posted on the social media platform X, the place he famous that Coinbase will not be dumping the coin, regardless of claims circulating throughout the group.
According to the analyst, the discount is extra seemingly linked to BlackRock, and his staff had beforehand highlighted a number of BlackRock-XRP connections. As such, he admonished traders to not interpret the drop in Coinbase’s wallets as bearish however fairly as an indication of shifting custody preparations, probably linked to the world’s largest asset supervisor.
BlackRock’s Position On An XRP ETF
Comments about BlackRock’s curiosity within the digital asset are rising louder every day, however it’s price noting that the corporate has already denied experiences of submitting for a Spot XRP ETF. An organization spokesperson for BlackRock just lately clarified that no such product has been filed with the SEC.
Nevertheless, the lower in Coinbase’s wallets coincides with latest developments involving BlackRock’s partnership with Coinbase, which means that an official transfer regarding a Spot XRP ETF could possibly be within the works. Given BlackRock’s embrace of different crypto ETFs, together with Bitcoin and Ethereum, it’s only a matter of time earlier than the altcoin joins the lineup.
Although BlackRock has not confirmed any intentions, the rumors alone have elevated curiosity amongst many holders, as proven by feedback on social media. As many as eight different asset managers have filed for a Spot XRP ETF with the SEC, and plenty of traders are nonetheless anticipating {that a} formal submitting may arrive ahead of anticipated.
At the time of writing, the connection between Coinbase’s lowered holdings and BlackRock is speculative, however because the third-largest crypto by market cap, the concept of Spot XRP ETFs hitting the market quickly shouldn’t be dominated out.
Featured picture from Adobe Stock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent evaluation by our staff of high know-how specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
