• Solana has plummeted 7.5% up to now 24 hours amid the “no ETF” feedback.
• BlackRock's chief funding officer mentioned the corporate has no plans to launch a Solana ETF anytime quickly.
• SOL dipped beneath $190, exhibiting indicators of a development reversal.

Solana (SOL) has reversed its uptrend up to now 24 hours after the main American multinational funding firm BlackRock confirmed that it’s going to not launch a Solana exchange-traded fund (ETF) within the close to future. Samara Cohen, CIO of ETFs and index investing at BlackRock, confirmed this in an interview with Bloomberg on July 29.

Cohen famous that regardless of projecting an elevated allocation to crypto ETFs in his mannequin portfolio between the top of this yr and 2025, he has no real interest in the Solana ETF in the intervening time.

Particularly, Cohen's feedback triggered a sell-off within the Solana market, inflicting the cryptocurrency to cease its upward motion and rapidly reverse course. So…

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