According to U.Today, prominent ETF analyst Nate Geraci recently discussed the improbability of BlackRock launching a Solana ETF during an appearance on the Thinking Crypto podcast. Geraci emphasized that for a Solana ETF to materialize, the cryptocurrency would need to have CME-traded futures and a futures-based ETF. He stated, "We either need regulated futures contracts to be trading, so in this case, we would need CME-traded Solana futures. Then we would probably need to see Solana Futures ETFs, and then you'd get the spot ETF.
Geraci also highlighted that BlackRock executives have recently dismissed the possibility of launching altcoin ETFs, indicating a lack of interest in this area. This sentiment was echoed by Samara Cohen, BlackRock's chief information officer, who confirmed that a Solana-based ETF would not be launched in the near future. Despite this, BlackRock has shown interest in other areas, such as launching an Ethereum ETF and exploring tokenization.
Meanwhile, the market is closely watching the approval process for two existing Solana ETF filings from 21Shares and VanEck. Geraci noted that the SEC has a decision to make on these filings by March of next year, which could potentially extend the timeline to March 2025.
