ETF analyst James Seyffart argues that BlackRock should not be permitted to launch a Solana exchange-traded fund (ETF) at the same time as smaller firms that have already put in considerable effort working with the SEC on their applications. Seyffart criticized the idea that BlackRock could potentially swoop in after others, stating that it undermines the hard work smaller issuers have done. VanEck was the pioneer firm among U.S. entities to apply for a spot Solana ETF. Since the initial filings, the SEC has delayed approvals and requested clarifications on the applications. Seyffart speculated that BlackRock might focus on tracking prices for multiple cryptocurrencies rather than launching an immediate Solana ETF. He indicated that if demand looks promising after competitors launch their products, BlackRock could enter the market subsequently. Furthermore, Seyffart believes not filing for another crypto ETF isn’t a significant risk for BlackRock due to the overwhelming market dominance of Bitcoin and Ethereum.

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