BlackRock’s SOL ETF Move Could Be a Major Snub to Smaller Players 😱

by

Let me tell you, the world’s largest asset manager, BlackRock, better think twice before they launch a Solana exchange-traded fund (ETF) at the same time as those who’ve been patiently waiting in line. According to ETF analyst James Seyffart, that move would be “messed up.”

“That’s messed up,” Seyffart told ETF analyst Nate Geraci in a video published to YouTube on Saturday, discussing a hypothetical scenario where BlackRock – despite no filing so far – decides to jump in at the last minute with a spot Solana (SOL) ETF and launches alongside firms that applied months ago. Can you imagine the nerve? 🤦‍♂️

The smaller firms put in all the hard work, Seyffart says

“That shouldn’t happen,” Seyffart said. “These smaller issuers, these guys have spent so much time working with the SEC getting the paperwork right,” he added. It’s like they’ve been baking a cake from scratch, and now someone’s suggesting they just buy a pre-made one from the store. Not cool, BlackRock, not cool. 🍰🚫

VanEck was the first US firm to apply for a spot Solana ETF in June 2024. Other Solana ETF bidders include Bitwise, Grayscale, Invesco, 21Shares, CoinShares, Canary Capital, Franklin Templeton, and Fidelity Investments. These companies have been grinding, folks, and they deserve a fair shot.

Since the initial filing, the SEC has issued several delays in its approval decision and requested amended application forms to gain greater legal clarity on the proposed products. It’s like trying to get a driver’s license, but the DMV keeps changing the rules every time you show up. 🚗📝

However, Seyffart is leaning toward the view that BlackRock will instead launch a crypto index product tracking the spot prices of several cryptocurrencies beyond the two largest, Bitcoin (BTC) and Ether (ETH). It’s like they’re saying, “Why pick one when you can have them all?” 🍕🔄

BlackRock may swoop in if demand is high

“That’s what I would do if I were BlackRock,” Seyffart said.

NovaDius president Nate Geraci said BlackRock may be waiting for its competitors to launch other crypto products first in order to gauge market demand. “If the demand looks like it’s going to be really good, perhaps they can just swoop in,” he said. It’s like watching a game of musical chairs, but you’re the only one who knows when the music will stop. 🎶-chair-

Geraci also said that if BlackRock chooses not to file, they may be “making a market call that it is just going to be Bitcoin and ETH and nothing else.” It’s a bold move, but hey, sometimes it’s best to stick with what works. 🚀💰

However, Seyffart says it’s not a major risk for BlackRock if they don’t file for another crypto ETF as approximately 90% of the crypto market cap is in Bitcoin and Ethereum. “Even if they don’t, I don’t think it is that big of a miss,” he said. “It obviously is not going to be what it is and was for Bitcoin, and like I said, I’m pretty bullish on the demand I see for index products,” Seyffart said.

Read More

2025-08-09 09:04