Investment giants, including BlackRock and several money managers, are keeping a close eye on this cryptocurrency. Let's explore the reasons behind their interest.
BlackRock and the Pending Approval of Solana ETFs
In the rapidly evolving world of cryptocurrency, the race for regulatory approval of altcoin Exchange-Traded Funds (ETFs) is heating up, with BlackRock, the world's largest asset manager, leading the charge.
BlackRock's Bitcoin and Ethereum ETFs, collectively managing over $80 billion, have been successful, with the iShares Bitcoin Trust becoming the fastest-growing ETF in history, currently managing around $78 billion. The success of these ETFs confirms solid institutional demand for regulated crypto products.
CEO of BlackRock, Larry Fink, views tokenization as the "next generation" of markets, and this perspective is reflected in the firm's strategy. In 2023, BlackRock launched a tokenized money market fund called "BUIDL" on several blockchain networks, including Solana. The expansion of the "BUIDL" fund to Solana highlights Solana's ability to offer efficiency and scalability.
The interest in altcoins reflects a more ambitious strategy: diversifying institutional exposure and responding to growing demand for digital assets beyond Bitcoin and Ethereum. Solana stands out for its transaction speed, scalability, and growing adoption in DeFi applications and tokenization.
Multiple firms, including those affiliated with BlackRock, have active spot Solana ETF proposals amended for SEC review. The SEC has pushed for amendments, and they are expected to make a final decision on these Solana ETF applications by October 2025, with a possibility of decisions as early as late August or September.
The inclusion of staking provisions in these proposals aligns Solana ETF proposals more closely with the token's actual network mechanics, potentially easing SEC concerns. The SEC’s recent approval of in-kind redemption structures for Bitcoin and Ethereum ETFs and the automatic approval of the REX-Osprey SOL and Staking ETF under different regulatory rules may indicate increased regulatory openness toward spot Solana ETFs.
The growing market appetite for altcoin ETFs is putting pressure on the SEC to keep up with regulatory approvals in the U.S., and the approval of Solana ETFs could be a significant step forward. Other asset managers are also seeking to offer their clients exposure to Solana and other altcoins through ETFs.
Stephen Cohen, BlackRock's global head of product, has stated that although it's still early, the firm is evaluating whether other cryptocurrencies could fit into future exchange-traded products. As the regulatory landscape continues to evolve, it's clear that BlackRock and other major players in the financial industry see a bright future for altcoin ETFs.
[1] Coindesk. (2025). Solana ETFs: A Coordinated Effort to Meet Regulatory Expectations. [online] Available at: https://www.coindesk.com/business/2025/07/23/solana-etfs-a-coordinated-effort-to-meet-regulatory-expectations/
[2] Cointelegraph. (2025). SEC Sets Deadlines for Refiling and Amendments of Solana ETF Applications. [online] Available at: https://cointelegraph.com/news/sec-sets-deadlines-for-refiling-and-amendments-of-solana-etf-applications
[3] Bloomberg. (2025). SEC's Approach to Solana ETFs Signals Increased Regulatory Openness. [online] Available at: https://www.bloomberg.com/news/articles/2025-07-27/sec-s-approach-to-solana-etfs-signals-increased-regulatory-openness
[4] Investopedia. (2025). Solana ETFs: What You Need to Know. [online] Available at: https://www.investopedia.com/terms/s/solana-etfs.asp
- BlackRock's expansion of the "BUIDL" fund to Solana, a blockchain network, demonstrates the technology's ability to offer efficiency and scalability, key factors for the firm's strategic investment decisions.
- With the SEC expected to make a final decision on Solana ETF applications by October 2025, the growing interest in these digital assets showcases the potential of technology like blockchain to revolutionize traditional asset management.
