Solana

2024

Bitcoin

In a recent interview with Bloomberg, BlackRock’s Chief Investment Officer Samara Cohen confirmed that the company does not plan to launch a Solana (SOL) ETF soon.
Cohen explained that BlackRock’s decision hinges on the investability criteria the company applies to assets considered for ETFs.&nbsp; Currently, Bitcoin and Ethereum meet these criteria, while Solana does not.&nbsp;
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 [BLOOMBERG] BlackRock CIO Samara Cohen: Spot <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> ETF Not Happening Soon<a href="https://twitter.com/search?q=%24BLK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BLK</a> <a href="https://t.co/6lpoDbBmla" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/6lpoDbBmla</a>— BecauseBitcoin.com (@BecauseBitcoin) <a href="https://twitter.com/BecauseBitcoin/status/1818326773404184644?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 30, 2024</a>
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“We really look at the investability – what meets the criteria, what meets the bar to be delivered in an ETF.” She noted
The success of BlackRock’s Bitcoin ETF, iShares Bitcoin Trust (IBIT), has been notable, with nearly $20 billion in inflows since its launch on January 11. Similarly, BlackRock’s Ethereum ETF has quickly accumulated $440 million in assets. These achievements highlight BlackRock’s focus on established cryptocurrencies with strong market positions.
Robert Mitchnick, BlackRock’s Head of Digital Assets, also noted at Bitcoin Nashville 2024 that Solana is still far from reaching the 3% market cap threshold needed for new investible assets. Additionally, Solana does not yet have a futures market on the CME, a key factor in the approval of Bitcoin ETFs.
Meanwhile, other asset managers are moving forward with plans for Solana. VanEck has filed for a Solana spot ETF, arguing that SOL, like Bitcoin and Ethereum, functions as a digital commodity.&nbsp;
Franklin Templeton has also <a href="https://www.cryptotimes.io/2024/07/31/franklin-templeton-is-considering-solana-as-next-etf-offering/" rel="noopener noreferrer nofollow">hinted</a> at the potential for a Solana ETF, reflecting a growing interest in expanding investment options within the crypto space.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/29/ethereums-new-etfs-attract-2-2-billion-influencing-trading-surge/" rel="noopener noreferrer nofollow">Ethereum’s New ETFs Attract $2.2 Billion, Influencing Trading Surge</a>
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“BlackRock Has No Immediate Plans for Solana ETF” — BlackRock’s CIO

The Crypto Times

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