“Being justified freely by His grace through the redemption in Christ Jesus, whom God set forth as a propitiation through faith in His blood, as a demonstration of His righteousness through the passing over of the sins that had taken place before, in the forbearance of God, for a demonstration of His righteousness in the present time, for His being just and justifying the one that is of the faith of Jesus” (Romans 3:24-26).
To truly have faith in Christ’s blood is to believe that God is truly propitiated and appeased by His blood. If you believe that Christ’s blood is shed for everyone without exception, then you do NOT believe that God is propitiated by it. You must believe that some effort on your part (enabled by so-called “grace,” of course) is what ultimately propitiated God. If you would object, think about this: If Christ’s blood truly propitiated God, as Romans 3:25 clearly states, then NO ONE for whom His blood was shed would go to hell. If you truly had faith in His blood, then you would NOT believe that this blood was shed for those in hell, nor would you call “saved” or “regenerate” those who believe this Christ-dishonoring blasphemy.
If you believe that Christ shed His blood for those who end up in hell, or you believe that some who believe this are presently saved persons, then you do NOT have faith in Christ’s blood.
For a further unpacking of what it means to have faith in the precious propitiatory blood of Jesus Christ, see the following article: