BlackRock may be holding off on filing for spot XRP and Solana (SOL) ETFs until the U.S. Securities and Exchange Commission finalizes a new approval framework, according to Nate Geraci, president of NovaDius Wealth Management.
Speaking on a recent podcast, Geraci speculated that the asset management giant is simply biding its time. While he’s long expected filings from BlackRock for single-asset altcoin ETFs beyond Bitcoin and Ethereum, the company has yet to take that step.
“We’re getting close to the finish line, and they still haven’t filed,” Geraci noted, adding that the SEC could approve such products as soon as October. If true, filings from BlackRock could arrive soon after, potentially joined by other heavyweights like Fidelity.
With over $53 billion in net inflows for its iShares Bitcoin Trust (IBIT), BlackRock is the undisputed leader in the ETF race. Geraci also emphasized that the firm is known for favoring index-based strategies across traditional markets, and sees no reason they wouldn’t apply the same approach to crypto.
He believes this could eventually lead to not only single-asset altcoin ETFs but also a broader index-based crypto ETF—once the regulatory path is clear.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-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 approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/is-blackrock-waiting-for-the-sec-before-jumping-into-xrp-and-solana-etfs/