BlackRock Closes the Door on Altcoins: "Only Bitcoin and Ethereum!"

Following the approval of spot Bitcoin and Ethereum ETFs, other altcoin ETFs are also expected to be approved.

While there are already applications for altcoin ETFs for some altcoins like Solana (SOL) and XRP, BlackRock has closed the door on any other ETFs.

Bloomberg ETF analyst Eric Balchunas shared BlackRock ETF president Jay Jacobs' statements on this subject.

At this point, Jay Jacobs said that BlackRock will focus on Bitcoin and Ethereum ETFs rather than launching other altcoin ETFs.

Jacobs said that his exploration of Bitcoin and Ethereum has just begun and that interest in BTC and ETH is just the tip of the iceberg.

Noting that Bitcoin and Ethereum ETFs currently only reach a small number of customers, the BlakRock manager emphasized that the company is focusing on the BTC and ETH space rather than launching new altcoin ETFs.