BlackRock Executive: Ethereum ETF Demand Only Shows the "Tip of the Iceberg"
According to reports, Jay Jacobs, the US head of thematic investing and active equity ETFs at BlackRock, said in an interview with Bloomberg ETF analyst Eric Balchunas that demand for Ethereum ETFs is just "the tip of the iceberg", with only a very small portion of clients currently holding its Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock remains focused on bringing new customers to these ETFs rather than launching new ones related to other cryptocurrencies.
Against the backdrop of potential interest rate cuts by the Federal Reserve this week and market expectations that Trump's administration may establish a strategic Bitcoin reserve by 2025, analysts predict ETH could break through $5000 before year-end, setting a new record high. The price of ETH broke through $4100 this morning, hitting a new high for the year while Bitcoin simultaneously surpassed $107000. Historically speaking, Ethereum usually sees another round of increases 1-2 months after Bitcoin hits a new high.
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