BlackRock, the world’s largest asset manager, should not be allowed to debut a Solana ETF at the same time as U.S. firms that have already filed applications, according to ETF analyst James Seyffart. Speaking with fellow ETF analyst Nate Geraci in a YouTube discussion published Saturday, Seyffart argued that such a move would undermine smaller issuers who have invested months in navigating the SEC approval process. “That’s messed up,” Seyffart said, describing a scenario where BlackRock — which has not yet filed for a Solana ETF — could enter the market at the last minute and launch simultaneously with firms that have been working with regulators for months. VanEck became the first U.S. applicant for a spot Solana ETF in June 2024 , followed by Bitwise, Grayscale, Invesco, 21Shares, CoinShares, Canary Capital, Franklin Templeton, and Fidelity Investments. Since the initial filing, the SEC has repeatedly delayed its decision, requesting amended forms for greater legal clarity. Smaller Firms “Put in All the Hard Work” Seyffart stressed that smaller issuers have invested significant time and resources into refining their filings. “These smaller issuers, these guys have spent so much time working with the SEC getting the paperwork right,” he said. While Seyffart believes BlackRock entering the Solana ETF race late would be unfair, he also thinks the asset manager may have different plans. Instead of pursuing a single-asset Solana product, he predicts BlackRock could opt for a broader crypto index fund that tracks multiple cryptocurrencies beyond Bitcoin and Ether. BlackRock to Enter Solana ETF Race Geraci suggested that BlackRock might be waiting for competitors to launch their own Solana or alternative crypto ETFs before deciding on its next move. “If the demand looks like it’s going to be really good, perhaps they can just swoop in,” he said. If the firm chooses not to file, Geraci believes it could be making a strategic call that Bitcoin and Ether will remain the dominant players. Seyffart agreed, noting that around 90% of the total crypto market capitalization comes from the two largest assets. “Even if they don’t, I don’t think it is that big of a miss,” he said, adding that he remains optimistic about demand for crypto index products. While the debate continues, the SEC’s timeline for approving or rejecting a spot Solana ETF remains uncertain, leaving early filers — and potential late entrants — waiting for the regulator’s next move. The post Analyst Says BlackRock Shouldn’t Launch Solana ETF Alongside Early Filers appeared first on TheCoinrise.com .
