World Famous Fund Manager BlackRock aimed to remain focussed on Ether & Bitcoin spot ETFs products only.

BlackRock, a leading investment company which entered in the crypto sector with the launch of Bitcoin spot ETF products in January of this year, has

World renowned fund manager BlackRock (NYSE:BLK) will reportedly be remaining focussed on Ether (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC) spot ETFs products only.

BlackRock, a leading investment company which entered the crypto sector with the launch of Bitcoin spot ETF products in January of this year, has announced that it is not currently planning to launch a Solana (CRYPTO: SOL) spot ETF product. Instead, the company is predicting that Ether ETFs will see strong investment inflows around 2025.

BlackRock’s clients are showing more interest in Bitcoin and Ethereum ETFs, leading to this strategic decision. However, the company has not ruled out the possibility of launching a Solana crypto ETF in the future.

This announcement by BlackRock has led to concerns among Solana cryptocurrency investors. Without a Solana ETF from BlackRock, the cryptocurrency might face a downturn in market sentiment and price. The absence of a Solana ETF could hinder its growth and adoption compared to Ethereum, which is set to benefit from BlackRock's focus.

Many crypto enthusiasts noted that while BlackRock’s decision not to pursue a Solana ETF is disappointing for Solana enthusiasts but company’s confidence in Ether ETFs signals a promising future for Ethereum. Investors will need to closely monitor these developments and adjust their strategies accordingly.

The news has already affected Solana’s market position. Investors are worried about the lack of institutional support, which could lead to a decline in Solana’s price. On the other hand, Ethereum is expected to see a boost in its market value due to the anticipated strong inflows into its ETFs.

At the time of writing, the current trading price of SOL, the native token of the Solana network, is $180. The trade price of SOL crashed nearly 2% following this bad news for Solana.

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