The cryptocurrency market took a notable hit Monday, with Bitcoin leading a notable decline. Among the hardest hit was Solana, which reached a 2025 low, falling below the $150 mark. However, things could be set to go from bad to worse. Indeed, BlackRock has spoken up about the prospects of a Solana ETF, and it could be even more bad news for SOL.

The $11 trillion asset manager was one of the issuers behind both a Bitcoin and Ethereum exchange-traded fund. The products were massively important for the asset class, with BTC eventually propelling to a six-figure price, with BlackRock playing a huge role. So, how does it feel about doing something similar for Solana?

Also Read: Solana ETF Gets 70% Approval Odds: Can It Push SOL To $300?

BlackRock Breaks Silence on a Solana ETF: Or Did They?

As many expected, 2025 has seen the potential arrival of even more crypto-based ETFs dominate discussions. Ripple has seen approval for an XRP ETF get a new timeline from the US Securities and Exchange Commission (SEC). Moreover, there is no shortage of asset’s that could join them on a growing list.

However, those hopes have not been enough to deter the rowing troubles facing the digital asset sector. Bitcoin has surprisingly fallen below $90,000 with a host of assets joining it. Amid that talk, Solana has continued to fall, with recent comments from BlackRock regarding a SOL ETF potentially adding to the concern.

Also Read: Solana Falls 32% as Experts Say One Thing Has SOL Eyeing $400

Speaking to Bloomberg, BlackRock’s US iShares Product division head, Rachel Aguirre, was hesitant to discuss its stance on a Solana ETF. “Number one, what does the client need?” Aguirre said.

“Number two, what is the investment thesis? In the world of cryptocurrencies, not all currencies are the same [and] that investment thesis is imperative,” she added. “And number three, is it something that is suitable for an ETF wrapper? Is there sufficient liquidity? Can it support transparency et cetera?”

Aguirre noted that the asset managers’ “principles remain the same,” irregardless of the asset. However, she also provided little information on a prospective SOL ETF and BlackRock’s involvement. The product is still likely to receive approval. Indeed, Bloomberg has given the product a 70% rate of being greenlit by the SEC.