Robert Mitchnick, BlackRock's Head of Digital Assets speaking at the 2024 Bitcoin Conference opined that the chances of an exchange traded fund (ETF) tracking other cryptocurrencies such as Solana (SOL) and Ripple (XRP) are very low.
Even so, Mitchnick explained that more financial firms will have the opportunity to compete in the crypto world after competitors such as VanEck have already taken the first steps towards the SOL ETF.
Although the ETH ETF has had a rocky start since launch, the product has managed to record two consecutive days of outflows plus BlackRock is trying to keep the inflows coming.
There is no denying that crypto regulations from the Securities and Exchange Commission (SEC) are still unclear, but regulators are still trying their best to implement guidelines that can help investors, commented Mitchnick again.
However, ETH Store President Nate Geraci stated that he completely disagrees with Mitchnick's view as ETPs for altcoins such as SOL, XRP and Cardano (ADA) in Europe are already on the market.
Commenting on the regulatory side, Geraci stated that the introduction of a similar product in the United States (US) would certainly require regulatory changes, however he remained optimistic on that side.
On the other hand, there is speculation that former US President Donald Trump may consider BlackRock CEO Larry Fink for the post of Treasury Secretary.
