BlackRock CIO Confirms No Solana ETF in Near Future
– BlackRock’s CIO for ETFs, Samara Cohen, stated in a Bloomberg interview that the firm has no plans to introduce new crypto ETFs, specifically a Solana ETF, anytime soon.
– Cohen highlighted that Bitcoin and Ethereum meet BlackRock’s investment criteria, unlike other altcoins which face issues like liquidity and manipulation.
– Despite the Solana price surge and demand from other asset managers, BlackRock remains focused on Bitcoin and Ethereum for their ETFs.
– Cohen mentioned that crypto ETFs, particularly BTC and ETH, would integrate into model portfolios by the end of 2024, as large fund houses conduct due diligence.
Cohen’s remarks align with BlackRock’s head of digital assets, Robert Mitchnick, who also sees no immediate scope for additional crypto ETFs. This cautious approach contrasts with asset managers like VanEck, who are pushing forward due to community demand.
BlackRock’s stance illustrates a broader industry trend of prioritizing established cryptocurrencies like Bitcoin and Ethereum, reflecting ongoing concerns about the viability and stability of altcoins in the ETF market.
