Before you ask when BlackRock is going to “announce ripple:native,” ask a better question: what would serious institutional adoption actually require? A fund doesn’t just buy an asset and call it a day. It needs execution. -Financing. -Clearing. -Custody. -Dollar liquidity. -Compliance. -Settlement. That list is basically what Ripple has been assembling. Former BlackRock Managing Director Edward Dowd said XRP’s success becomes compelling if large institutions adopt Ripple technology. Today, Ripple Prime serves more than 300 institutional customers and clears roughly $3T annually across traditional and digital markets. Its U.S. platform already supports institutional XRP and RLUSD trading. Delta One adds equities and indices. Ripple Custody handles institutional digital assets. RLUSD has crossed $2B, with close to $1B on XRPL, while BNY provides primary reserve custody. Then XRPL adds the market infrastructure: tokenized assets, permissioned environments, DEX liquidity, Single Asset Vaults and developing institutional lending. That creates a very different setup from the XRP people were buying years ago. An institution can increasingly enter through Ripple Prime, hold digital assets through custody infrastructure, use RLUSD as cash, settle tokenized positions on XRPL and access XRP liquidity inside the same broader ecosystem. That’s why I’m not waiting for somebody to ring a bell and announce that institutional adoption has begun. I’m watching the pieces institutions need show up one by one. And they’re already showing up around ripple:native. If you know, you know...