Will Solana and XRP ETF see light of day if BlackRock boycotts?
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U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.As the broader cryptocurrency community continues to celebrate the commencement of trading for spot Ethereum , hopes for the possible launch of related launches for altcoins ETF seem unlikely. This fear looms despite initial filing for a, a major asset manager, the multi-trillion dollar investment giant BlackRock, is reluctant to embrace other altcoins. According to Robert Mitchnick, Blackrock’s Digital Assets Head,"Blackrock sees “very little interest” in crypto beyond Bitcoin and Ethereum."This revelation could significantly impact the likely approval of the applications already filed seeking the regulator’s nod for these ETF products. Notably, BlackRock wields a huge amount of influence in the financial world and now, the cryptocurrency ecosystem. There are assumptions that its filing for Bitcoin and Ethereum ETFs facilitated the regulatory nod. Lack of interest from this major asset manager in the crypto space threatens the approval of other altcoin ETFs. The rigors of getting regulatory approval and scrutiny by the U.S. SEC cannot be considered a walk in the park., while commenting on an earlier delay for spot Ethereum ETF approval in an interview, joked about how the SEC had to be “dragged kicking and screaming” to approve the spot Bitcoin ETF. However, he seemed optimistic that XRP ETF approval remains inevitable.However, the recent update about BlackRock’s stance with these other altcoins shows that not much pressure will prevail on the regulatory body. In fact, with this uncertainty, stakeholders remain unclear as to how other asset managers will respond.asset manager and Japan’s SBI Holdings looks set to partner for an anticipated ETF launch in Japan, where spot Bitcoin and Ether ETF products have already been introduced. The move is believed to be in preparation for an XRP and Solana ETF.Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.Dormant Ethereum Whale Awakens: 92,500 ETH Moved After Six Years
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