BlackRock is focusing on Bitcoin and Ethereum rather than launching XRP or other altcoin ETFs, citing the two assets' deeper liquidity and profit potential. Nate Geraci, president of The ETF Store, called the strategy highly risky, while Canary Capital CEO Steven McClurg said BlackRock may wait until competing XRP funds reach stable net assets of $3 billion. On-chain data showed BlackRock-linked wallets withdrew $312 million from Coinbase Prime, including $282 million associated with IBIT and $30.6 million distributed between ETHA and ETHB. Geraci expects BlackRock could eventually launch additional spot crypto ETFs if demand and liquidity mature.