The post Why BlackRock is holding back on Solana ETF appeared on BitcoinEthereumNews.com.

While Bitcoin and Ethereum are thriving in the ETF space, BlackRock’s caution could signal a longer wait for other crypto assets. In the crypto industry, where speculation and hype often outpace reality, the recent remarks from Samara Cohen, chief investment officer for ETF and index investments at BlackRock, offer a sobering perspective. In a July 29 interview with Bloomberg’s Katie Greifeld and Eric Balchunas, Cohen made it clear that, for now, Bitcoin and Ethereum were the only cryptocurrencies meeting BlackRock’s stringent criteria for exchange-traded funds. BlackRock CIO of ETF and Index Investments Samara Cohen discusses private assets and whether they could be part of an ETF, and their role in tokenization. She speaks with Katie Greifeld and Eric Balchunas on Bloomberg ETF IQ https://t.co/n6lslT6wzz pic.twitter.com/QfALQuzYls — Bloomberg Crypto (@crypto) July 29, 2024 Cohen’s statements came against the backdrop of a crypto market buzzing with excitement and anticipation following the successful launch of Ethereum ETFs on July 23, 2024.  In the interview, the BlackRock executive stated that despite some outflows from higher-priced ETF products, the demand for direct exposure to Bitcoin and Ethereum was high, with investors looking to those two products for diversification and potential returns. The launch sent ripples through the market, pushing the weekly trading volume of crypto funds to a staggering $14.8 billion, the highest since May. Those with their fingers on the crypto industry’s pulse suggest that investors are eager to explore new avenues.  In that regard, Solana has become a frequent subject of speculation as a potential new entrant in the ETF space. However, Cohen’s remarks pour cold water on these hopes, at least for now. Bitcoin and Ethereum: the chosen ones Listening to Cohen, it is clear that practicality and demand are the basis for BlackRock’s decision to concentrate only on BTC and ETH…

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Filed under: News - @ August 1, 2024 9:30 pm