BlackRock Unlikely to Expand Crypto ETF Offerings Beyond Bitcoin and Ethereum
Following the introduction of Spot Bitcoin and Ethereum ETFs, there’s been speculation about whether fund managers will expand into other cryptocurrencies.
However, BlackRock, the world’s largest asset manager, appears uninterested in pursuing ETFs for altcoins like Solana and XRP.
Robert Mitchnick, BlackRock’s head of digital assets, has indicated that the company sees minimal demand for cryptocurrencies beyond Bitcoin and Ethereum. This suggests that BlackRock is not planning to offer spot ETFs for other digital assets anytime soon.
Charles Gasparino from Fox Business also noted that BlackRock CEO Larry Fink avoided discussing the potential for a spot XRP ETF in a recent interview. Gasparino clarified that Fink’s evasion likely means BlackRock has no immediate plans to file for such an ETF, despite speculation from the XRP community.
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While BlackRock remains focused on Bitcoin and Ethereum, other firms are exploring altcoin ETFs. VanEck and 21Shares have both filed applications for the first spot Solana ETFs in the United States. Franklin Templeton has also shown interest in Solana, predicting it could become one of the top cryptocurrencies by market cap.
Brian Kelly, founder of BKCM, believes Solana will likely be the next cryptocurrency to get its own ETF, highlighting its strong performance alongside Bitcoin and Ethereum in the current market cycle.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
