BlackRock reveals the only two cryptocurrencies worth buying
BlackRock has moved from skepticism to acceptance of #cryptocurrencies . Initially hesitant, it launched a #bitcoin #ETF with SEC approval after Grayscale had a legal battle with the SEC over a similar product.
Bitcoin fund #BlackRock has achieved historic success, with assets under management (AUM) exceeding $50 billion in just 11 months. The fund's unprecedented performance has led to speculation that its AUM could surpass that of gold ETFs in the coming years, and institutional investor interest has shifted significantly away from traditional funds. Nate Geraci, CEO of ETF store
, said that if the price of bitcoin doesn't fall in 2025, the BlackRock Bitcoin Fund (IBIT) could overtake the world's largest gold ETF. He predicted that it could overtake the SPDR Gold Shares.
earlier this year, BlackRock's Robert Mitchnack said investors are showing "little interest" in other cryptocurrencies, suggesting that altcoin's growth potential remains limited.
BlackRock's cryptocurrency strategy focuses on bitcoin and Ethereum, but a broader market is developing. Companies such as Franklin Templeton and Van Eck are exploring blockchain projects such as Solana (SOL), and there is optimism that altcoins could gain momentum with future ETF approvals.
Franklin Templeton Franklin Templeton Franklin Templeton has been a strong supporter of Solana, calling it one of the most promising blockchain projects. Meanwhile, WisdomTree, Bitwise and Canary Capital have filed applications to create an XRP ETF, signaling a growing interest among institutional investors to expand their cryptocurrency offerings beyond these two giants.
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