No, BlackRock Doesn’t Have Plans for a Solana ETF

BlackRock's CIO, Samara Cohen, has confirmed to Bloomberg that the firm is not currently considering a Solana ETF.

She stated that BlackRock’s decision to launch ETFs is guided by both the investment potential and client interest, with Bitcoin and Ethereum currently meeting those standards. Cohen noted that there are no immediate plans for new altcoin ETFs from BlackRock at this time.

In contrast, VanEck and 21Shares have recently applied to introduce ETFs focused on Solana. However, industry experts are skeptical about the approval of such products in 2024, deeming these efforts as potentially premature. Earlier this year, Ripple CEO Brad Garlinghouse predicted the arrival of several altcoin ETFs in the U.S. market.

Solana recently outpaced Binance’s BNB token to become the fourth-largest cryptocurrency by market cap. This milestone highlights Solana’s growing significance in the crypto space. Despite this, BlackRock’s recent ventures have been more focused on Bitcoin and Ethereum.

Their Bitcoin ETF, launched in January, was a major success, driving BTC to new highs in March. The Ethereum ETF, which went live earlier this month, saw a robust start with $87 million in inflows by July 26, though it has not generated the same level of excitement as the Bitcoin product.