The cryptocurrency market took a notable hit Monday, with Bitcoin main a notable decline. Among the many hardest hit was Solana, which reached a 2025 low, falling beneath the $150 mark. Nonetheless, issues may very well be set to go from unhealthy to worse. Certainly, BlackRock has spoken up concerning the prospects of a Solana ETF, and it may very well be much more unhealthy information for SOL.
The $11 trillion asset supervisor was one of many issuers behind each a Bitcoin and Ethereum exchange-traded fund. The merchandise had been massively vital for the asset class, with BTC ultimately propelling to a six-figure worth, with BlackRock enjoying an enormous position. So, how does it really feel about doing one thing comparable for Solana?
Additionally Learn: Solana ETF Will get 70% Approval Odds: Can It Push SOL To $300?
BlackRock Breaks Silence on a Solana ETF: Or Did They?
As many anticipated, 2025 has seen the potential arrival of much more crypto-based ETFs dominate discussions. Ripple has seen approval for an XRP ETF get a brand new timeline from the US Securities and Trade Fee (SEC). Furthermore, there isn’t any scarcity of asset’s that would be part of them on a rising checklist.
Nonetheless, these hopes haven’t been sufficient to discourage the rowing troubles dealing with the digital asset sector. Bitcoin has surprisingly fallen beneath $90,000 with a bunch of belongings becoming a member of it. Amid that discuss, Solana has continued to fall, with latest feedback from BlackRock concerning a SOL ETF probably including to the priority.
Additionally Learn: Solana Falls 32% as Consultants Say One Factor Has SOL Eyeing $400
Talking to Bloomberg, BlackRock’s US iShares Product division head, Rachel Aguirre, was hesitant to debate its stance on a Solana ETF. “Primary, what does the shopper want?” Aguirre mentioned.
“Quantity two, what’s the funding thesis? On this planet of cryptocurrencies, not all currencies are the identical [and] that funding thesis is crucial,” she added. “And quantity three, is it one thing that’s appropriate for an ETF wrapper? Is there enough liquidity? Can it help transparency et cetera?”
Aguirre famous that the asset managers’ “ideas stay the identical,” irregardless of the asset. Nonetheless, she additionally supplied little data on a potential SOL ETF and BlackRock’s involvement. The product remains to be more likely to obtain approval. Certainly, Bloomberg has given the product a 70% charge of being greenlit by the SEC.
