On the blockchain’s nine-year anniversary, one BlackRock executive praised Ethereum, while giving some insight into a potential Solana ETF. Indeed, the $10 trillion asset manager’s CIO, Samara Cohen, spoke with Bloomberg on the second largest cryptocurrency and its recently launched exchange-traded products.
The ETH ETF launched last week to a mixed reception. During the conversation, Cohen discussed how outflow figures that may concern the market don’t tell the whole story. Moreover, she discussed how the investment vehicle has already showcased increased demand for the crypto.
Also Read: Ethereum ETFs Debut With $2.2B Inflows
BlackRock Exec Talks ETH and a Potential SOL ETF
Since the launch of Ether ETFs, outlfows have become a massive worry. A CoinShares report notes that the products debuted with $2.2 billion inflows. However, that was underscored by $284.9 million worth of flows coming in negative last week.
Yet, BlackRock executive Samara Cohen still heaped praise on Ethereum, while discussing the popular Solana ETF proposal. She noted that “This is a story in the early days about access.” Moreover, she assured that investors are seeking to put Ether in their portfolios.
“If you look at trading volumes, because it is important to look at both [not just flows], 25% of trading volume is because there has been a lot of outflows,” Cohen told Bloomberg. “Not just from the other high-priced Ethereum ETF products, but probably also from proxy vehicles.”
Also Read: Solana ETF Hopes Drive Price as SOL Approaches $200
“Investors really want to get their ETH exposures,” Cohen assured. “Especially if they are going to use it in the context of an overall portfolio in an ecosystem they have confidence in.” Additionally, she noted that investors are looking at ETH as a portfolio diversified.
Cohen wasn’t as optimistic at the idea of a Solana ETF within the year. “Not in the near term,” Cohen said. “We look at the investability to see what meets the criteria and bar to be delivered in an ETF.”
“For us right now, between both an invisibility consideration and what we hear from our clients, Bitcoin and Ethereum meet that bar,” she said. “I think it will be a while before we see anything else,” she added, referring to a SOL ETF.