tl;dr
BlackRock's head of exchange-traded funds (ETFs) Jay Jacobs states that demand for Bitcoin (BTC) and Ethereum (ETH) ETFs is just beginning. BlackRock is focusing on BTC and ETH ETFs due to client demand, rather than launching altcoin ETFs. BlackRock's iShares Bitcoin Trust ETF (IBIT) has $54.38 bill...
BlackRock's head of ETFs, Jay Jacobs, has noted a significant demand for Bitcoin and Ethereum ETFs, driven by client interest. The focus is on BTC and ETH ETFs, rather than launching altcoin ETFs.
BlackRock's iShares Bitcoin Trust ETF (IBIT) currently holds $54.38 billion in net assets, while iShares Ethereum Trust ETF (ETHA) has around $3.84 billion. Both ETFs were launched earlier this year.
Bitcoin is increasingly integrated into options strategies, with a growing trend of 'Bitcoin something else' ETFs and various options strategies tied to Bitcoin, Nvidia, Tesla, and MicroStrategy.
Asset management titan BlackRock’s Jay Jacobs emphasizes that the demand for Bitcoin (BTC) and Ethereum (ETH) ETFs is just beginning. According to senior Bloomberg ETF analyst Eric Balchunas, BlackRock is focusing on BTC and ETH ETFs due to client demand rather than launching altcoin ETFs.
At the time of writing, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has $54.38 billion in net assets, and iShares Ethereum Trust ETF (ETHA) has about $3.84 billion. Both ETFs launched earlier this year, with IBIT debuting in January and ETHA rolling out in July. IBIT is trading for $57.80, while ETHA is at $29.71.
Mike Venuto of Tidal Financial Group highlights the increasing integration of Bitcoin into options strategies, stating, "Every options strategy you can think of is going to be tied to Bitcoin, Nvidia, Tesla and MicroStrategy in ETFs. It’s coming."
As of the time of writing, Bitcoin, the top crypto asset, is trading at $101,895, representing a fractional decrease on the day.