Solana Dips 7.5% After BlackRock Guidelines Out Rapid ETF Launch

• Solana plunged 7.5% within the final 24 hours amid “No ETF” feedback.
• BlackRock’s CIO stated the agency is not going to launch a Solana ETF quickly.
• SOL returned beneath $190, exhibiting indicators of a pattern reversal.

Solana (SOL) reversed its uptrend within the final 24 hours after BlackRock, the main American multinational funding firm, confirmed it is not going to launch a Solana exchange-traded fund (ETF) within the close to future. BlackRock’s CIO of ETF and Index Investments, Samara Cohen, confirmed this throughout a Bloomberg interview on July 29.

Cohen famous her firm’s present lack of curiosity in a Solana ETF, regardless of projecting a rise within the allocation of crypto ETFs in mannequin portfolios by the tip of this yr and into 2025.

Notably, Cohen’s feedback triggered a selloff within the Solana market, which noticed the surging crypto halt its upward motion and instantly reverse. SO…

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