Among the grand halls of BlackRock Inc. (NYSE: BLK), where men pace back and forth with the weight of their portfolios crushing their spines and the scent of stale coffee permeates existential gloom, a solemn declaration has been spoken: “Spot Solana (SOL) and XRP exchange-traded funds (ETFs-those marvelous abracadabra objects) are not, at present, within our immediate plans.” 
How romantic-how Dostoevskian-that a company’s spokesperson utters such words cloaked in ambiguous hope, while everyone else gnaws at the cold reality, like Raskolnikov staring into the abyss. As for BlackRock, their attention lies elsewhere: tending to their darling crypto ETFs, iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Each one carefully cradled, as one might a nervous mouse in a cage, shivering at the possibility of freedom.
Now, the sages of Wall Street-those nervous wrecks with too-small ties and too-large opinions-murmur that BlackRock could have, if they so wished, filed for spot crypto ETFs for assets beyond BTC and ETH. Why, indeed, do they not? Several other fund manager firms, in fits of drunken ambition, have already filed for spot XRP and SOL ETFs with the U.S. SEC, dreams shining in their watery eyes like distant lanterns seen through Moscow fog.
Friday gave way to feverish speculation, the kind of mass hysteria that gripped Petersburg in the time of cholera, as rumor spread of BlackRock possibly filing for a spot XRP ETF after Ripple and SEC shared a touching moment of “joint dismissal” in their lawsuit-a reconciliation worthy of a soap opera, perhaps. 🥱
When Shall the SEC Unshackle Solana and XRP ETFs?
Americans-dreamers, gamblers, eternal children-await the U.S. SEC’s benevolent approval for several spot altcoin ETFs, possibly before our calendars wheeze into the year 2025. The agency, like a tired schoolmaster, has reluctantly begun dialoguing with spot altcoin ETF issuers led by Solana. “Imminent approval,” they whisper, as one might whisper encouragement to a horse dying of old age. 🐴
Vivian Fang, finance professor at Indiana University (so glamorous!), insists the Bitcoin and Ethereum ETFs are of another breed entirely-like Dostoevsky’s Ivan and Alyosha, doomed to walk separate paths. Both XRP and Solana claim American birth, yet Wall Street analysts (those professional prognosticators) predict a SOL ETF will slip through SEC’s fingers sooner than an XRP one. Fasten your intellectual seatbelts.
“All things considered, I personally believe it is more likely that we see ETFs filed for public blockchain-based altcoins like Solana (SOL) before we see one dedicated to Ripple (XRP),” Fang muses, staring wistfully out of her window, pondering life, the universe, and men’s ability to ruin both.
Market Picture
Legal clarity in America’s cryptoverse has ignited a stampede-nay, a ballet-of institutional investors, each one channeling their inner Ivan Karamazov, intent on finding meaning (and yield) in a world devoid of it. Corporate treasuries bulge with altcoins, inspired by the palpable glory of Bitcoin treasury companies (ah, sweet capitalism!).
When the curtain rises on the 2025 altseason-backed by deliciously clear crypto regulations and torrents of capital-a single question must be asked: Who profits? Ethereum, meanwhile, smashes through $4k for the first time in eight months, like a Dostoevskian hero staggering out of the snow into the comforting embrace of a warm tavern. 🍷🍾
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2025-08-09 00:07