Bloomberg analyst James Seifat recently stated a hard truth. He said BlackRock's recent actions are a bit underhanded! VanEck was the first to apply for a SOL spot ETF back in June 2024, and other companies followed suit, negotiating with the SEC for quite a while. Then BlackRock suddenly swoops in at the last minute to steal the business, isn't that just bullying?

This situation is like waiting in line for bubble tea. You’ve worked hard waiting in line all day, and just when it’s your turn, someone suddenly cuts in line—who can stand that?

Seifat also shared a particularly interesting viewpoint. He said that Bitcoin and Ethereum, the two big players, account for 90% of the entire crypto market cap. If BlackRock really wants to stir things up, it would be better to create a 'mixed' index product that bundles other smaller coins together. This way, it’s not only easier but also profitable. Why focus solely on milking SOL?

However, to be fair, BlackRock's recent move is quite clever. It's like playing a game and getting the last hit on the boss; while others have chipped away at the health, it comes in to collect the reward. This business acumen is hard to ignore!

In my opinion, the crypto space is really deep. Big institutions play around, and in the end, it's us small retail investors who suffer, right? So, before investing, be sure to keep your eyes wide open and don't let these big players treat you like fodder.