Solana News: BlackRock Executive Outlines Principles for Potential Solana ETF Launch

BlackRock, a leading investment management firm, is considering the launch of a Solana ETF and has outlined its key principles for doing so. Here`s a closer look at what this could mean for the cryptocurrency market.

BlackRock Executive Highlights Principles for Solana ETF Approach

Rachel Aguirre, the head of U.S. iShares products at BlackRock, highlighted the company’s three key principles when considering the launch of a Solana ETF. These principles include addressing client needs, defining the investment thesis, and evaluating the suitability of ETF packaging. Aguirre noted that these principles apply to all investment strategies, including active management and using derivatives. However, regulatory uncertainty remains a potential hurdle for Solana ETFs as the U.S. SEC might classify SOL as a security, unlike Bitcoin and Ethereum classified as commodities.

BlackRock Stays Silent on Solana ETF Plans as Rivals Race Ahead

As the competition heats up for the next altcoin exchange-traded fund (ETF), BlackRock has remained noticeably absent from the race for a Solana (SOL) ETF. BlackRock’s iShares brand currently leads the market with the two largest spot crypto ETFs: the iShares Bitcoin Trust ETF with $55.4 billion in assets under management (AUM) and the iShares Ethereum Trust ETF with $3.7 billion AUM. Despite this dominance, the world’s largest asset manager with $11.6 trillion in assets has yet to signal any intent to launch a Solana-based product. It is worth noting that competitors are moving swiftly with their Solana ETFs. Investment giant Franklin Templeton recently filed for a Solana ETF, joining a growing list of applicants.

Solana (SOL) Price Prediction for February 25

Solana (SOL) is currently trading at $140.19 after a modest 1.09% decrease in the last 24 hours. This slight dip has stirred discussions among traders and investors about SOL`s near-term prospects. Analyzing the technical chart reveals that the immediate support level for SOL appears to be around the $135–$138 zone, which has historically acted as a cushion during minor corrections.

Why Solana is Crashing Below $140: What’s Next?

Solana (SOL) has experienced a significant downturn, trading at $138.45 after a 12.6% intraday drop. Over the past week, SOL has declined by 16.27%, and in the past month, it has fallen by more than 45%. This reflects waning investor confidence. One of the major reasons for the decline is a whale sell-off, with 135 whales each holding over 10,000 SOL selling or redistributing their holdings between January 25 and February 23.