BlockBeats news, on December 17, according to Cryptonews, BlackRock's Head of Thematic Investments and Active Equity ETFs in the U.S., 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 its Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock is still focused on bringing new clients to these ETFs, rather than focusing on launching new ETFs related to other cryptocurrencies.
Amid 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, analysts expect ETH to potentially break the historic high of $5000 by the end of the year. The ETH price broke through $4100 this morning, reaching a new high for the year, while Bitcoin surpassed $107,000 during the same period. According to historical patterns, Ethereum typically experiences a new round of increases 1-2 months after Bitcoin breaks a new high.
