Recently, the crypto assets market has once again become a hot topic of discussion. Bloomberg analyst James Seifat sharply criticized BlackRock's latest actions, arguing that its behavior during the Solana (SOL) Spot ETF application process was unfair.

It is reported that VanEck was the first to submit an application for a SOL Spot ETF as early as June 2024, after which other companies followed suit and engaged in long-term communication with the U.S. Securities and Exchange Commission ( SEC ). However, just as the application process was nearing its end, BlackRock suddenly joined the competition, an act viewed as disrespectful to the pioneers.

Seifat vividly compared this situation to being cut in line while buying drinks, sparking discussions within the industry about fair competition. He also put forward a unique perspective: given that Bitcoin and Ethereum account for 90% of the total market value of Crypto Assets, if BlackRock truly wants to innovate, it might be better to consider launching a comprehensive index product that includes other smaller crypto assets, which would save resources and increase returns.

Nevertheless, BlackRock's strategy also reflects its keen business acumen. Just like seizing the last hit to achieve victory in a game, BlackRock chose to quickly enter the market on the foundation already laid by other companies, showcasing its superb market maneuvering ability.

However, this event has also triggered a reflection on the complexity of the crypto assets market. The game between large institutions may ultimately harm the interests of ordinary investors. Therefore, investors need to remain vigilant when entering this market, gain a deep understanding of market dynamics, and avoid becoming victims of the battles between large institutions.

This controversial event will undoubtedly continue to provoke in-depth discussions within the industry regarding fair competition, regulatory policies, and investor protection.