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Did Bitcoin Giant BlackRock Not Make a Move for Solana? Manager Explained 3 Reasons! - Coin Bulletin
BlackRock aroused curiosity in the industry by not being among the companies that applied for ETFs (SOL) Solana.
As the world's largest asset manager, BlackRock manages $11.6 trillion** in assets, and the company's iShares brand, iShares Bitcoin Trust ETF leads the spot crypto ETF** market with varlık( under management of $)55.4 billion and iShares Ethereum Trust ETF (3.7 billion dolar).
However, the absence of BlackRock stands out among giants such as Franklin Templeton, Bitwise, Grayscale, and 21Shares in Solana ETF applications.
Rachel Aguirre, who manages BlackRock's U.S. iShares Product division, did not give a clear answer when asked on Bloomberg TV if the company has a plan for Solana ETF, but she stated that the company's priority is to "first meet customer needs, then determine the investment thesis, and finally evaluate factors such as liquidity, transparency, and active management or suitability for derivative strategies to determine if it is suitable for an ETF structure."
Spot Bitcoin** ETFs were launched in January 2024, while Ethereum ETFs were launched in July 2024. In the last quarter, institutional investors' interest in ETH ETFs increased to 14.5%, while BTC ETF ownership decreased from 22.3% to 21.5%. BlackRock's IBIT product continued to lead nearly 1,100 institutions with 247 million shares.
While it remains unclear whether BlackRock will join the Solana ETF race, it is necessary to keep a close eye on the company's strategic steps.