As the race to launch the next altcoin exchange-traded fund (ETF) heats up, BlackRock, the world’s largest asset manager with $11.6 trillion in assets under management (AUM), has yet to announce any plans for a Solana ETF.
BlackRock Stays Silent on Potential Solana ETF Amid Rising Interest
While major players such as Franklin Templeton, Bitwise, Grayscale and 21Shares have already filed for spot Solana ETFs, BlackRock remains on hold.
When asked about the possibility of a Solana ETF during a Bloomberg TV interview, BlackRock U.S. iShares Product Head Rachel Aguirre declined to comment on any specific plans.
Instead, Aguirre emphasized that BlackRock evaluates potential ETFs based on three key principles:
- Customer Demand – Understanding investor needs.
- Investment Thesis – An assessment of the fundamental differences between cryptocurrencies.
- ETF Suitability – Ensuring adequate liquidity, transparency and structural feasibility.
The U.S. Securities and Exchange Commission (SEC) will play a key role in determining the timeline for the Solana ETF. If SOL is classified as a security, it could significantly complicate the approval process, as industry experts have noted.
Despite these uncertainties, Bloomberg ETF analysts estimate there is a 70% chance the Solana ETF will eventually win approval.
BlackRock's Dominance in Crypto ETFs
BlackRock already dominates the spot Bitcoin and Ethereum ETF markets, managing $55.4 billion and $3.7 billion in AUM, respectively, through its iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA).
Institutional ownership in ETH ETFs rose to 14.5% last quarter, while BTC ETF ownership fell slightly to 21.5% from 22.3%. BlackRock’s IBIT remains the market leader with 1,100 institutions owning 247 million shares.
*This is not investment advice.
