
Solana's recent price surge has fueled speculation about a potential Solana ETF.
BlackRock says that Bitcoin and Ethereum will be the primary focus for crypto ETFs in the near future.
Regulatory hurdles, market conditions, and investor interest are cited as key challenges for launching Solana and other altcoin ETFs.
In the past two weeks, Solanaโs price has jumped by 30%, outperforming both Bitcoin and Ethereum. Many believe this rise is linked to rumors about a potential Solana ETF. However blackrock
blackrock - Fintech SolutionAdvisoryInvestment platform has dashed these hopes.
In a recent Bloomberg interview, Samara Cohen, BlackRockโs CIO for ETF and Index Investments, confirmed that Bitcoin and Ethereum will continue to be the main cryptocurrencies traded through ETFs for now.
Disappointed? Here’s all the information we have.
BlackRock Clarifies Its Priorities
Cohen explained that there is currently little demand for adding other altcoins, like Solana, to crypto ETFs. She noted that Bitcoin and Ethereum meet the required criteria for stability and investor interest, while other cryptocurrencies do not. She cited technical challenges, liquidity issues, and concerns about market manipulation as key reasons why altcoins like Solana are not yet considered for ETFs. This view is supported by Robert Mitchnick, BlackRockโs head of digital assets, who also sees no immediate future for additional crypto ETFs.
Understanding the ETF Market Share
Bitcoin and Ethereum dominate the crypto market, with Bitcoin holding 55% and Ethereum 17% of the total market share. Other altcoins contribute less than double digits, which makes their inclusion in ETFs even more difficult. Despite Solanaโs strong recent performance and its market cap of $82 millionโsurpassing Binanceโs BNB tokenโBlackRock remains cautious about expanding its ETF offerings beyond Bitcoin and Ethereum.
So, What Next for Crypto ETFs?
Cohen mentioned that crypto ETFs might become part of “Model Portfolios” by the end of 2024. Major financial institutions like Wells Fargo, Morgan Stanley, and UBS are evaluating how Bitcoin and Ethereum might fit into their portfolios. BlackRockโs Ethereum ETF, ETHA, has attracted significant investor interest since its launch.
It’s Shaky Ground for Solana
While some asset managers, such as VanEck and 21Shares, are pushing for Solana ETFs due to strong demand from the crypto community, approval remains uncertain. Despite Solanaโs bullish outlook and analyst Ali Martinezโs prediction of a 900% surge, many experts doubt that new crypto ETFs will be approved in 2024.
Ripple CEO brad garlinghouse
brad garlinghouse Brad Garlinghouse is an American businessman and a major crypto influencer. He is the CEO of Ripple Labs, which offers cryptocurrency and blockchain solutions. Brad has also worked at Hightail, AOL, and Yahoo in prominent positions. Ripple Labs has backed several blockchain startups and investors to grow decentralized finance. Brad sees crypto as a tool for financial freedom and has worked with other influencers in this regard.
Quick Facts Full Name Bradley Kent Garlinghouse Birth 06-02-1971, in Topeka, Kansas Nationality American Education Bachelor's degree in Economics, MBA from Harvard Business School. Marital Status Married to Kristen Elizabeth Mautner Net Worth $10B (Refer here) Ripple's native token, XRP is among the top digital assets. As per CoinGape, Brad's company has $100 billion worth of XRP tokens in its reserve. This will help further innovation in Web3 and blockchain projects. As per reports surfing on Binance’s blog, Brad Garlinghouse may step down as CEO of Ripple to join the Crypto Advisory Council, which is led by President Trump. This significant event will boost the adoption of decentralized finance and blockchain growth.
Brad Garlinghouse: Trivia 2007: Served as Senior VP at Yahoo!, heading communications and consumer products.
2012: Became CEO of Hightail, leading digital file-sharing innovations.
2015: Joined Ripple as COO to push blockchain adoption in cross-border payments.
2017: Became CEO of Ripple, driving XRP adoption and blockchain partnerships.
2020: Led Ripple’s defense against the SEC lawsuit over XRP’s security status.
2021: Expanded Ripple’s ODL (On-Demand Liquidity) network for global crypto payments.
2023: Got a partial success against the SEC, declaring XRP as not a security.
2024: Continue leading Ripple in CBDC collaborations and global blockchain finance.
2025: May join Trump's Crypto Advisory Council to set regulations. Notable Works & Achievements by Brad Garlinghouse Year Achievements Details 2003 Wrote the 'Peanut Butter Manifesto' at Yahoo! Highlighted Yahoo!'s lack of focus in operations. 2015 Joined Ripple as Chief Operating Officer Took measures to integrate blockchain technology into banking systems. 2017 Appointed CEO of Ripple Expanded Ripple's global partnerships, enhancing cross-border payment solutions. 2020 Named in Forbes' List of Wealthiest in Cryptocurrency Recognized for significant contributions to the crypto industry. 2023 Legal Victory in SEC vs. Ripple Case Achieved a favorable ruling impacting cryptocurrency regulations. Other Useful Links To Connect with Brad Garlinghouse Platform Link X (formerly Twitter) https://twitter.com/bgarlinghouse LinkedIn https://www.linkedin.com/in/bradgarlinghouse Ripple’s Website https://ripple.com/leadership/brad-garlinghouse/ EntrepreneurInvestorChief Executive OfficerBoard Member had anticipated multiple altcoin ETFs this year, but Bloomberg analyst Eric Balchunas pointed out that the final deadline for Solana ETFs is mid-March 2025, with a key date in November.
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