Fairness and Market Dynamics

ETF specialist James Seyffart has voiced strong concerns about fairness—labeling it “messed up” if BlackRock were to launch a spot Solana (SOL) ETF alongside smaller issuers who have invested significant time and effort working with the SEC. He emphasized that firms like VanEck, Bitwise, Grayscale, and others laid the groundwork starting in June 2024, and should not be sidelined by a late-big entrant.

Cointelegraph

AInvest

What Might BlackRock Do Instead?

Seyffart speculated that BlackRock may sidestep a Solana ETF altogether and instead offer a broader crypto index product, tracking multiple assets beyond just Bitcoin and Ether, giving them strategic flexibility.

Cointelegraph

AInvest

Meanwhile, Nate Geraci, president of NovaDius, suggested BlackRock may be biding its time—watching market demand before making any moves. If altcoin interest proves strong, BlackRock could potentially "swoop in."

Cointelegraph

AInvest

Broader Industry Sentiment and Speculation

Some analysts remain optimistic that approvals for Solana, XRP, Dogecoin, and other altcoin ETFs might come by the end of 2025, with James Seyffart and Eric Balchunas estimating high chances of approval—possibly “next month or late fall.”

Decrypt

Regulatory Updates from the SEC

Several firms—including Canary Marinade, 21Shares, and Bitwise—submitted amended Solana ETF filings on June 13, 2025, addressing SEC comments. Despite these efforts, the SEC appears to be taking a cautious approach, with no rush toward approval.

Reuters

BlackRock’s Strategic Plans—Exploring But Not Committing

According to Financial News, BlackRock is eyeing expansion beyond Bitcoin and Ether, considering crypto assets like Cardano, Polkadot, and Solana—but no concrete filings have been made yet. Their chief product officer emphasized that exploration is still in early stages.

FNLondon

BlackRock’s Official Position

Contrary to speculation, BlackRock has confirmed that it currently has no plans to launch spot ETFs for XRP or Solana. A spokesperson clarified this despite speculation following developments like the Ripple–SEC case resolution.

Crypto Briefing