BlackRock doubts that the list of approved crypto ETFs will be expanded. The company maintains that after the launch of spot ETH ETFs, market participants should not expect to see the rollout of exchange-traded funds based on other altcoins. Meanwhile, experts expect the launch of Solana. What prevents the list from expanding?
Plans to launch a Solana-based ETF do not mean that the market should then expect the rollout of funds in each of the available cryptocurrencies. It’s entirely possible that the Solana ecosystem, which was created as a unique and competitive instrument, plays in favor of a SOL ETF. Reliance on reality and far-reaching plans in this case can be a good reason to promote the respective ETFs.
That said, it should be noted that quite a few spot ETFs have been announced and launched on the market. Initially, spot BTC ETFs provided investors with the opportunity to gain exposure to the flagship digital asset – that is, they reduced the financial burden on the consumer. For most of the traded cryptocurrencies, this proposition is irrelevant since their price is quite affordable.
BlackRock also likely has internal statistics on the number of requests for any given product. By this, we mean live data illustrating interest. Perhaps it is not as promising as for spot Bitcoin or Ethereum ETFs and as such does not look financially attractive to institutional investors.