BlackRock Says No Other Crypto ETFs Expected Soon

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Cohen emphasized that beyond technical challenges, there is a lack of demand for other cryptocurrency ETFs, including Solana. “We assess investability and client interest,” Cohen said. “Bitcoin and Ethereum meet the standards, but it will be some time before any other cryptocurrencies do.” 

The recent launch of Ethereum ETFs spurred weekly crypto fund trading volumes to over $14.8 billion, the highest since May. This success has led to speculation about future offerings, with Solana often mentioned as a potential next candidate. VanEck and 21Shares have both filed for Solana ETFs in the U.S. 

Solana, known for being faster and cheaper than Ethereum, has generated interest. However, the absence of Solana CME futures represents a significant hurdle for SEC approval of a Solana ETF.  

Franklin Templeton has described Solana as a “major development” in the crypto space. Despite this, Solana currently holds about 3% of the crypto market’s total value. It has a market cap of $82 billion, according to CoinGecko.