According to Deep Tide TechFlow news, on December 17, BlackRock's U.S. Head of Thematic Investments and Active Equity ETFs, Jay Jacobs, stated in an interview with Bloomberg ETF analyst Eric Balchunas that the demand for Ethereum ETFs is only showing the 'tip of the iceberg.' Currently, only a very small portion of clients hold their Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock is still focused on bringing in new clients for these ETFs rather than launching new ETFs related to other cryptocurrencies.
Analysts expect ETH to potentially break its historical high of $5,000 by the end of the year against the backdrop of the Federal Reserve possibly announcing an interest rate cut this week and market expectations that the Trump administration may establish a Bitcoin strategic reserve in 2025. The ETH price broke through $4,100 this morning, reaching a new high for the year, while Bitcoin surpassed $107,000 during the same period. Historically, Ethereum tends to experience a new round of increases 1-2 months after Bitcoin breaks a new high.
