Pumpius (@pumpius), a well-known figure in the crypto space, recently reshared an old interview in which BlackRock CEO Larry Fink declined to address the XRP ETF question. When asked about a potential XRP ETF shortly after the launch of ETH ETFs, Fink responded with caution, stating, “I can’t. And you don’t want me to.”
Pumpius interpreted Fink’s evasiveness as evidence that BlackRock may have been restricted by a non-disclosure agreement (NDA) tied to Ripple or other stakeholders.
Ripple is well known for having more than 1,700 NDAs, and commentary around the clip suggests that BlackRock’s refusal to speak on XRP ETFs at that time may have stemmed from such legal obligations.
🚨 BLACKROCK IS BOUND BY XRP NDAs!
“I CAN’T”
His face says it all! pic.twitter.com/CxYHUty5qf
— Pumpius (@pumpius) November 15, 2025
The XRP ETF Race
In the years since the interview, the situation has changed considerably. XRP-based ETFs have now entered the market. Notably, the Rex Osprey ETF and the Canary Capital ETF have recently launched, with Canary’s XRPC ETF experiencing a record-breaking debut.
Furthermore, heavyweight institutions, such as Franklin Templeton, 21Shares, CoinShares, and others, are reportedly preparing to introduce their own XRP ETFs in the coming weeks, potentially opening the floodgates for institutional participation in the XRP market.
BlackRock’s Position Today
BlackRock has not publicly acknowledged involvement in any XRP ETF initiative, and the company has made no formal statements confirming that it is preparing such a product. Yet, the resurfaced video has sparked speculation.
A continued NDA could have kept BlackRock silent even as other firms moved ahead, as Fink’s tone in the interview could reflect ongoing internal deliberations about entering the XRP ETF space.
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Is BlackRock Under an NDA?
Ripple’s extensive use of NDAs reinforces the idea. If such a contract bound BlackRock, it might explain Fink’s refusal to elaborate during the interview. He refused to comment despite pressure from the interviewer, and as XRP ETF competition grows
BlackRock is the largest asset manager in the world, and the XRP army has been vocal about its desire to see the company join the XRP ETF race. The resurfaced interview raises new questions about BlackRock’s strategy. Will the firm eventually join the growing cohort of providers in the XRP ETF market?
If legal barriers once prevented public acknowledgment, many market participants now wonder whether these barriers still exist as other major institutions prepare for their ETF launches.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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