BlackRock is not focused on altcoin ETFs right now, said an executive at the firm.
Just a “tiny fraction” of BlackRock users own IBIT and ETHA.
Tidal CIO Michael Venuto believes Bitcoin will be tied to “every options strategy.”
BlackRock, the world’s largest asset management firm, is doubling down on its United States spot Bitcoin and Ethereum exchange-traded funds (ETFs), IBIT and ETHA, instead of launching investment products focused on altcoins. Currently, only a small portion of the firm’s customers hold these crypto ETFs, and BlackRock wants to onboard more users.
In a post on X (formerly Twitter), Bloomberg ETF analyst Eric Balchunas discussed the rising popularity and demand for crypto ETFs, referencing quotes from representatives of different digital asset management firms. With recent discussions about XRP and Solana ETFs and the overall market reaching new highs, we can expect more capital inflow.
Read also: Cryptocurrency Alert: Ethereum and Solana Edge Closer to Key Price Breakouts
Jay Jacobs, the Head of Thematic and Active ETFs at BlackRock, stated that the asset management firm is “just at the tip of the iceberg with Bitcoin and e…
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