Home web3.0 BlackRock Sticks to Bitcoin and Ethereum ETFs, VanEck Eyes Solana

BlackRock Sticks to Bitcoin and Ethereum ETFs, VanEck Eyes Solana

Jul 27, 2024 pm 06:16 PM
BlackRock Ethereum ETF Bitcoin

BlackRock's Focus is centered on Bitcoin and Ethereum for its crypto ETFs. Bitcoin ETFs saw inflows, while Ethereum ETFs experienced significant outflows.

BlackRock Sticks to Bitcoin and Ethereum ETFs, VanEck Eyes Solana

BlackRock's Focus is centered on Bitcoin and Ethereum for its crypto ETFs.

Bitcoin ETFs saw inflows, while Ethereum ETFs experienced significant outflows.

VanEck and Franklin Templeton Eye Solana ETF, BlackRock Sticks to Bitcoin and Ethereum

At the recent Bitcoin Conference in Nashville, Tennessee, BlackRock's head of digital assets, Robert Mitchnick, shared the firm's focused approach to cryptocurrency exchange-traded funds (ETFs). As BlackRock navigates the evolving crypto landscape, it remains centered on Bitcoin and Ethereum, reflecting the clear preferences of its client base.

Bitcoin Growing Demand Among Investors

During the panel discussion titled “From Strategy to Innovation: BlackRock's Bitcoin Journey,” Mitchnick highlighted that BlackRock's clients are overwhelmingly interested in Bitcoin first, followed by Ethereum, with little demand for other digital assets.

This strong client preference underpins BlackRock's decision to launch its iShares Bitcoin Trust (IBIT) in January and iShares Ethereum Trust ETF (ETHA) in July, marking its strategic entry into the crypto ETF market.

Mitchnick further clarified that BlackRock does not plan to significantly expand its range of crypto ETFs beyond these two key assets. He pointed out that Ethereum is viewed as a complement to Bitcoin rather than a substitute, given its unique applications and potential within the blockchain ecosystem.

Bitcoin or Ethereum: ETF Winner?

Recent data shows different trends for Bitcoin and Ethereum ETFs. On July 25, Ethereum ETFs had net outflows of $152.3 million, while Bitcoin ETFs saw net inflows of $31.16 million. This suggests that investors are more cautious about Ethereum.

Despite this, Mitchnick believes Ethereum will make up about 20% of crypto portfolios, with Bitcoin remaining the leader.

Meanwhile, investment firm VanEck predicts that Bitcoin's market cap could reach $61 trillion by 2050. This prediction is based on Bitcoin's potential role in global trade and as a reserve asset for central banks, making it an appealing alternative to traditional currencies.

VanEck Exploring New Opportunities

While BlackRock remains focused on Bitcoin and Ethereum, other firms are exploring new opportunities in the crypto space. VanEck, for instance, recently filed for a Solana ETF, reflecting ongoing interest in diversifying crypto investment options.

And Franklin Templeton, after launching BTC and ETH ETFs, is reportedly optimistic about expanding its crypto offerings, including a new ETF for Solana (SOL).

Besides Bitcoin and Ethereum, there are other major developments that we believe will drive the crypto space forward. Solana has seen major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, ...

As the market continues to evolve, BlackRock is committed to aligning its offerings with investor interests and the broader trends shaping the digital asset landscape.

Also Check Out: 2024 Crypto Market Insights: ETF Approvals, Regulatory Frameworks, and Market Dynamics

The above is the detailed content of BlackRock Sticks to Bitcoin and Ethereum ETFs, VanEck Eyes Solana. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Hot Topics

Java Tutorial
1664
14
PHP Tutorial
1268
29
C# Tutorial
1242
24
Just-In: MicroStrategy To Raise $1.75B Through Private Offering To Buy More Bitcoin Just-In: MicroStrategy To Raise $1.75B Through Private Offering To Buy More Bitcoin Nov 19, 2024 am 10:02 AM

American business intelligence and software firm MicroStrategy Inc. has announced plans to offer the public up to $1.75 billion of its Convertible Senior Notes.

Glauber Contessoto Predicts Parabolic Rise for Ethereum ETH/USD, Targeting $15,000 This Cycle Glauber Contessoto Predicts Parabolic Rise for Ethereum ETH/USD, Targeting $15,000 This Cycle Nov 20, 2024 am 10:08 AM

Glauber Contessoto, also known as "Dogecoin millionaire," expressed bullish sentiments on Ethereum ETH/USD, predicting a parabolic rise for the second-largest cryptocurrency.

Don't Miss the Opportunity to Invest in Top 5 New Crypto Coins for 100X Gains Don't Miss the Opportunity to Invest in Top 5 New Crypto Coins for 100X Gains Nov 17, 2024 am 01:30 AM

Here is the list of the top five new cryptocurrencies to invest in before they skyrocket. These newly launched projects possess massive gains

MicroStrategy Announces Proposed Private Offering of $1.75B of Convertible Senior Notes. MicroStrategy Announces Proposed Private Offering of $1.75B of Convertible Senior Notes. Nov 19, 2024 am 09:54 AM

MicroStrategy intends to use the net proceeds to acquire additional Bitcoin and for general corporate purposes. The offering will be available to institutional investors and certain non-US buyers.

Bitkey Introduces Inheritance Feature for Bitcoin Self-Custody Bitkey Introduces Inheritance Feature for Bitcoin Self-Custody Nov 19, 2024 am 03:32 AM

Bitcoin is increasingly seen as a multi-generational asset, and the need for secure and user-friendly solutions to ensure its legacy is more important

Crypto Bitlord: The Man Who Mastered the Art of Influence in the Ever-Changing World of Cryptocurrency Crypto Bitlord: The Man Who Mastered the Art of Influence in the Ever-Changing World of Cryptocurrency Nov 16, 2024 am 04:34 AM

Particularly in the world of meme coins, Bitlord—known for his honest attitude, keen insights, and open demeanor—has created a distinct niche for himself

Bitcoin ETF to Drive Market Momentum? Bitcoin ETF to Drive Market Momentum? Nov 20, 2024 am 01:24 AM

The crypto market today has been showcasing an upbeat momentum since Asian trading hours, with the market cap climbing by 1.74% to $3.08 Trillion.

Microstrategy's $26B Bitcoin Stash Is Larger Than the Cash and Marketable Securities of IBM, Nike, and J&J Combined Microstrategy's $26B Bitcoin Stash Is Larger Than the Cash and Marketable Securities of IBM, Nike, and J&J Combined Nov 17, 2024 pm 09:42 PM

Microstrategy has acquired 279,420 BTC, which represents roughly 1.33% of the total supply. The company's shares have surged by over 2,500% as the value of Bitcoin has soared around 700% since the middle of 2020.