Why BlackRock Doesn’t See Solana, XRP ETFs in the Near Future

• Mitchnick says Solana, XRP ETFs face liquidity and regulatory issues.
• Ethereum’s dip post ETF launch triggers market caution.
• VanEck, 21Shares push forward with Solana ETF filings.

BlackRock’s Robert Mitchnick, Head of Digital Assets, dampened expectations for Solana and XRP ETFs, citing a lack of maturity and liquidity, along with regulatory uncertainties.

This follows Ethereum’s recent price drop after its ETF launch. However, others pointed to VanEck and 21Shares’ SOL ETF filings, highlighting institutional interest.

The analyst also expressed the view that the SEC was not particularly comfortable with spot Ether ETFs offering staking facilities. He used this reasoning to suggest that an ETF for altcoins such as Solana and XRP might be far off.

The speculation surrounding a Solana ETF was initially sparked by Franklin Templeton (FTI), which praised the blockchain’s vision and accomplishments in an X post. Notably, FTI lauded the diverse activities on the SOL blockchain during Q4 2023, including developments in decentralized finance (DeFi), meme coins, and NFT innovation.

On Solana, we see Anatoly’s vision of a single atomic state machine as a p…

The post Why BlackRock Doesn’t See Solana, XRP ETFs in the Near Future appeared first on Coin Edition.