President of NovaDius Wealth Management Nate Geraci suggests that BlackRock may be waiting for the SEC's new approval framework before filing for XRP and Solana ETFs.
Awaiting SEC Approval
In a recent podcast, Nate Geraci expressed the view that BlackRock may be waiting for the SEC to finalize its new framework before filing for XRP and Solana based ETFs. He emphasized that BlackRock, as a leading player in the ETF space, has not yet made such moves.
State of the ETF Market
The SEC is likely to approve such products as early as this October, potentially leading to BlackRock's filings soon. Geraci points out that time is running out, as the firm has not yet taken steps to go beyond Bitcoin and Ethereum.
Indexing Asset Approach
Geraci also noted that BlackRock tends to favor an indexing approach when dealing with stocks and bonds. 'They believe that indexing is an appropriate way to access different asset classes. I don't know why they would view crypto any differently,' he added.
As the SEC's final decision approaches, BlackRock may file for new ETFs, which would enhance their presence in the cryptocurrency market.
