Solana, XRP ETFs may not hit the market, BlackRock doesn’t see possibility

Source Fxstreet
  • Crypto traders are optimistic that spot Ether ETF approval has paved the way for Solana, XRP, and other assets.
  • BlackRock head of digital assets said at the Bitcoin Conference that there is very little interest beyond BTC and Ether. 
  • Bitcoin sustains above $67,000, and Ethereum hovers above $3,200 on Friday. 

Solana added nearly 5% gains on the day, up to $179.

Asset management giant BlackRock does not see much interest among clients in crypto ETFs beyond Bitcoin and Ethereum. While crypto traders consider spot Ethereum ETF approval as the first step towards other crypto assets, the statement from an executive at the asset management firm has caused uncertainty.

Bitcoin and Ethereum hold steady above key support on Friday, Solana gains nearly 5% on the day, and XRP hovers close to psychological support at $0.60. 

Spot Bitcoin, Ethereum ETFs capture interest of traders

Robert Mitchnick, BlackRock’s head of digital assets, spoke at The Bitcoin Conference on Thursday. The executive commented on the success of the spot Bitcoin and Ethereum ETFs. 

Mitchnick does not see much interest in crypto ETFs beyond the top two assets, per his speech. Mitchnick was quoted as saying: 

“Our client base today, their interest overwhelmingly is in Bitcoin first, and then somewhat in ETH… and there’s very little interest today beyond those two. I don’t think we’re gonna see a long list of crypto ETFs”. 

The asset management giant launched its spot Bitcoin and Ethereum ETFs in January and July of this year, respectively. 

The opinion is, however, limited to BlackRock, while Franklin Templeton’s recent tweet ignited hope among traders for a Solana ETF. 

The asset manager has presented an optimistic view on the launch of more crypto ETFs in the US, including a Solana investment product. 

In its July 23 tweet, the asset manager said:

“Besides Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward.”

The statements have failed to dampen traders’ enthusiasm. Solana gains 5% on Friday, and Bitcoin and Ethereum sustain above their key support levels. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
JOLTS Job Openings expected to decline slightly in AugustMarkets expect Job Openings in August to decline slightly to 7.1 million compared to the previous month's reading of 7.181 million.
Author  FXStreet
Sep 30, Tue
Markets expect Job Openings in August to decline slightly to 7.1 million compared to the previous month's reading of 7.181 million.
placeholder
Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe struggle to gain tractionMeme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain muted as the broader cryptocurrency market recovers.
Author  FXStreet
Sep 30, Tue
Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain muted as the broader cryptocurrency market recovers.
placeholder
What to expect from Ethereum in October 2025With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Author  Beincrypto
Sep 30, Tue
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
placeholder
Forex Today: US politics, data releases to lift volatility as Q3 endsThe US Dollar (USD) stays on the back foot early Tuesday as investors grow increasingly concerned about a possible government shutdown, which could cause a delay in data releases later in the week.
Author  FXStreet
Sep 30, Tue
The US Dollar (USD) stays on the back foot early Tuesday as investors grow increasingly concerned about a possible government shutdown, which could cause a delay in data releases later in the week.
placeholder
US Dollar Index remains below 98.00 due to looming government shutdownThe US Dollar Index (DXY) is remaining subdued for the third successive session and trading around 97.90 during the Asian hours on Tuesday.
Author  FXStreet
Sep 30, Tue
The US Dollar Index (DXY) is remaining subdued for the third successive session and trading around 97.90 during the Asian hours on Tuesday.
goTop
quote