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BlackRock Expands Blockchain Footprint to Solana
In a recent development, the world’s largest asset manager, BlackRock, has reportedly expanded its blockchain footprint to Solana. The news sent shockwaves through the crypto market, with many speculating that this could be a significant step towards mainstream adoption.
The integration of traditional financial products into blockchain networks is an important milestone in the growth and maturity of the cryptocurrency space. By providing access to a broader range of assets, Solana’s potential ETF approval by the US SEC could bring more institutional money into the crypto market.
It’s no surprise that Cosmo Jiang, VP at Pantera Capital, has expressed optimism about SOL potentially becoming the next altcoin after Ethereum to have its ETF approved by the US SEC. The prospect of a Solana ETF is exciting for investors as it would provide exposure to the asset without having to buy and hold the cryptocurrency directly.
As Solana continues its rebound moves after crashing to $124.54, reaching the $150 resistance level could be an important psychological milestone. However, breaking past this barrier and potentially going on to breach the $200 mark will require sustained institutional interest.
The recent rally is not surprising given the increasing mainstream recognition of blockchain technology.
Source: https://u.today/blackrock-expands-blockchain-footprint-to-solana
