BlackRock: No other cryptocurrency ETFs in the foreseeable future
Written by:Matthew Sainsbury
Translation: VernacularBlockchain
According to the executive of BlackRock’s senior trading desk, exchange-traded funds, only Bitcoin and Ethereum will be traded via ETFs in the future.
Samara Cohen, chief investment officer of ETFs and index investing at BlackRock, said in an interview with Bloomberg TV that while bitcoin and ethereum meet the investment giant’s minimum requirements for ETFs, no other digital assets come close to those standards.
Cohen also said that in addition to the technical difficulties encountered in launching new ETFs, the market demand for other currency ETFs, especially Solana, has not yet emerged.
"We're really looking at investment viability to determine which assets meet the criteria and which can be delivered through an ETF," Cohen said in an interview. "For us, both Bitcoin and Ethereum definitely meet the requirements, both in terms of investment viability and customer feedback, but we may have to wait a while before we see other assets enter the market."
The successful launch of the Ethereum ETF last week pushed weekly crypto fund trading volume to its highest level since May, exceeding $14.8 billion, sparking market speculation about what to do next.
Solana is considered the most likely candidate asset, and in fact, VanEck and 21Shares have already splitXiaobai NavigationDon’t submit an application for a Solana ETF in the United States.
Many are optimistic about Solana as an asset because it is considered a faster and cheaper alternative to Ethereum.
However, there are currently no Solana CME futures like there are for Bitcoin and Ethereum, which is considered a major obstacle for the U.S. Securities and Exchange Commission (SEC) to approve the Solana ETF.
This assumption was further reinforced by the fact that fund management firm Franklin Templeton described Solana as “an exciting and significant development that we believe will advance the crypto space.”
According to Coingecko, Solana accounts for approximately 3% of the total crypto market value, with a market cap of $82 billion.
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