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BlackRock has confirmed it has no plans to launch a Solana ETF anytime soon, despite the roaring success of its Bitcoin and Ethereum spot ETFs launched this year.
The company’s dismissal of small-cap altcoins leaves room for other asset managers to compete in this area, with some already filing to launch the product.“We really look at the investability – what meets the criteria, what meets the bar to be delivered in an ETF,” Cohen explained. In terms of investability and client demand, she said Bitcoin and Ethereum certainly meet that bar.Thus far, both Bitcoin and Ethereum’s spot ETFs have proven strong successes.
“Like Ether on the Ethereum network, SOL can be traded on digital asset platforms or used in peer-to-peer transactions,” said Matthew Sigel, VanEck’s head of digital asset research, at the time. Unlike BTC and ETH, however, Solana does not yet have a futures market on the CME – a cornerstone of the crypto’s legal arguments for getting Bitcoin spot ETFs approved. The verdict is still out on whether SOL is a security token, with the SEC alleging as much in its Coinbase lawsuit.Ethereum Products Bleed Funds Amidst Regulators' Silence on ETF ApplicationOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.
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