BlackRock faces criticism for potentially launching a Solana ETF alongside smaller US firms already in the process. VanEck was the first to apply, followed by Bitwise, Grayscale, and others. The SEC has delayed approval decisions for these ETFs, seeking further legal clarity on the proposed products.

ETF analyst James Seyffart suggests BlackRock may opt to launch a crypto index product tracking various cryptocurrencies beyond Bitcoin and Ether. He believes BlackRock may wait to assess market demand before entering the space.

Nate Geraci, president of NovaDius, speculates that BlackRock could be monitoring competitors’ crypto product launches to determine market interest. Seyffart notes that BlackRock not filing for another crypto ETF may not be a significant loss, given that most of the crypto market cap is concentrated in Bitcoin and Ethereum.

Read more at Cointelegraph: ETF Analysts Speculates On Possible BlackRock Solana ETF