|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
BlackRock Confirms No Plans to Launch Solana (SOL) Exchange-Traded Fund (ETF) in the Near Future
Aug 01, 2024 at 05:01 am
Despite the potential, Solana's ETF launch is still questionable. At the 2024 Bitcoin conference, Robert Mitchnick, Head of Digital Assets BlackRock
Jakarta - One of the largest asset management companies in the world, BlackRock has confirmed that they have no plans to launch Solana's Exchange-Traded Fund (ETF) (SOL) in the near future. Despite the great success of their Bitcoin and Ethereum ETFs, Solana is still considered insufficient to be used as a new investment product.
As reported by Crypto Potato, on Tuesday, BlackRock's CIO, Samara Cohen, stated in an interview with Bloomberg that Solana's ETF launch was not yet included in the company's short-term plans. “We really look at the investability of what meets the criteria, what is worthy of being used as an ETF,” Cohen explained. According to him, in terms of client's investability and demand, Bitcoin and Ethereum clearly meet those standards.
"I think it will take a long time before we see other assets launched as ETFs,” Cohen added.
So far, BlackRock's Bitcoin spot and Ethereum ETF has proven to be very successful. BlackRock's iShares Bitcoin Trust (IBIT) has raised nearly 20 billion US Dollars (approximately IDR 325 trillion) since its launch on January 11, and recorded the best opening record in the first 30 days compared to any ETF in history. Meanwhile, BlackRock's Ethereum ETF controls 440 million US Dollars (approximately IDR 7.1 trillion) in ETH in just the first week of its launch.
Despite the potential, Solana's ETF launch is still questionable. At the 2024 Bitcoin conference, Head of Digital Assets BlackRock, Robert Mitchnick, noted that the next investable asset is only about 3% of the total crypto market cap. This shows that Solana is still far from the threshold of maturity, liquidity, and track record required.
In March, Mitchnick emphasized that Bitcoin remains a top priority among clients focused on crypto. "Then a little bit of Ethereum, and very little more," he said.
At the end of June, VanEck became the first company to apply for the Solana ETF in the United States. VanEck argued that regulators had no reason to reject SOL's public trade, given its self-similar function to BTC and ETH as digital commodities that had been approved.
"Like Ether on the Ethereum network, SOL can be traded on digital asset platforms or used in peer-to-peer transactions," said Matthew Sigel, head of VanEck's digital asset research.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Bitcoin Price Extend Gains Above $63,500
- Sep 23, 2024 at 12:15 pm
- Bitcoin price extended its increase above the $62,500 level. BTC was able to clear the $62,800 and $63,200 resistance levels to move further into a positive zone.
-
- Royal Canadian Mint unveils new Gold Maple Leaf bullion coin made from single mine in northern Ontario
- Sep 23, 2024 at 12:15 pm
- The Royal Canadian Mint has introduced its latest Gold Maple Leaf bullion coin – made entirely from gold sourced from a single mine in northern Ontario.
-
- BTC Miners Are Going Bust as the Market Realizes the Halving Myth Is a Lie
- Sep 23, 2024 at 12:15 pm
- Not long ago, CoinGeek reported on how Russian President Vladimir Putin warned that BTC miners were causing blackouts in certain regions.
-
- Dogecoin Eyes 45% Gain as Price Attempts to Stage a Breakout from Its Long-Term Resistance Structure This Month
- Sep 23, 2024 at 12:15 pm
- According to the Dogecoin price outlook presented in a previous CNF post, traders were warned against taking long positions amid the consolidation as analysts believed Dogecoin could trade between $0.12 and $0.15 in the short term, with potential for a rise if it breaks resistance at $0.16.
-
- Detailed Process for Claiming MON Token Airdrops
- Sep 23, 2024 at 12:15 pm
- Safety is paramount within the crypto industry. This post details typical frauds involving MON airdrops and gives guidance on how to steer clear of these scams.
-
- Top 5 Cryptos to Buy in October 2024 – KAS, SOL, ADA, CYBRO, NEIRO [Updated List]
- Sep 23, 2024 at 12:05 pm
- October 2024 brings a fresh update on the standout cryptocurrencies poised for significant growth potential. This brief glance introduces five noteworthy contenders that are capturing attention: KAS, SOL, ADA, CYBRO, and NEIRO.
-
- Extremely fine Congressional Gold Medal presented to Lieutenant Robert Henley sold for a hammer price of £180,000 at auction
- Sep 23, 2024 at 12:05 pm
- This was against an estimate of £40,000-50,000 at Noonans Mayfair on Thursday, September 19, in a sale of British, World Coins and Historical Medals.
-
- Nervos Network (CKB) Investors Eye Mpeppe (MPEPE) Gaming Launch as the Next Big Profit Opportunity
- Sep 23, 2024 at 10:25 am
- The Nervos Network (CKB) community has been riding a wave of profits as the value of CKB continues to climb. As excitement builds, many in the community are looking for the next big opportunity—and they’ve found it in Mpeppe (MPEPE).
-
- Hello Kitty's Limited-Edition 50th Anniversary Gold Coin Releases for Preorder
- Sep 23, 2024 at 10:25 am
- Via Sanrio's official Japanese website, Hello Kitty is receiving a new gold coin commemorating her 50th anniversary.