BlackRock executives reveal: Bitcoin and Ethereum: neither enemies nor friends, complementary and co-prospering crypto duo

In the warm atmosphere of the Bitcoin 2024 conference, Robert Mitchnick, a leader in the field of digital assets at BlackRock, expressed thought-provoking insights. He bluntly pointed out that although the market has ushered in a new chapter of spot Ethereum ETFs recently, this does not mean that ETFs of other crypto assets will follow closely. Mitchnick emphasized that Bitcoin and Ethereum are not competitors in the traditional sense, but partners who complement each other. Bitcoin, as digital gold, carries the mission of global currency substitutes; while Ethereum, with its powerful technology platform, leads the innovation and prosperity of blockchain applications.

Facing the fog of regulation, Mitchnick revealed the SEC's cautious attitude towards spot Ethereum ETFs with pledge elements, which further highlights the complexity and challenges of the market. However, he firmly believes that this emerging category of crypto assets will not be short-lived, but rather heralds the emergence of more market access opportunities. Although competitors such as VanEck have taken the lead in applying for Solana ETF, the industry generally expects that its road to approval may be bumpy.

It is worth noting that based on in-depth market insights, BlackRock predicts that customers have little interest in cryptocurrencies other than Bitcoin and Ethereum, and predicts that the future ETF market may be mainly built around these two core digital assets. This view not only reveals the current market preference trend, but also provides valuable direction guidance for investors. $CVP $IRIS $STMX #美国以太坊现货ETF开始交易