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Analysts: BlackRock's launch of Solana spot ETF at the same time as other issuers is unfair

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2025-08-09 06:37:33
James Seifat, an analyst at Bloomberg, believes that "it is unfair for BlackRock to launch a Solana (SOL) spot ETF at the same time as other issuers." He explains: "In June 2024, VanEck filed for the first SOL spot ETF in the US, and smaller issuers such as Bitwise, Grayscale and Invesco followed suit, having been in lengthy negotiations with the Securities Exchange Commission (SEC) and preparing documents. It is unfair for BlackRock to step in at the last minute and launch a SOL spot ETF at the same time."
Mr. Seifat added: "With bitcoin and ethereum accounting for about 90 per cent of cryptocurrency market capitalisation, BlackRock is more likely to launch a cryptocurrency index product that bundles all cryptocurrencies except bitcoin and ethereum than to apply for an SOL spot ETF."
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