Asset management giant BlackRock’s head of exchange-traded funds (ETFs) Jay Jacobs recently discussed the increasing demand for Bitcoin (BTC) and Ethereum (ETH) ETFs, stating that the interest in these assets is just beginning.
According to Bloomberg ETF analyst Eric Balchunas, Jacobs highlighted that BlackRock is prioritizing its BTC and ETH ETFs over launching altcoin ETFs due to the growing demand from clients. Currently, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has $54.38 billion in net assets, while the iShares Ethereum Trust ETF (ETHA) holds approximately $3.84 billion. These ETFs were launched earlier this year, with IBIT debuting in January and ETHA in July. The current trading prices for IBIT and ETHA are $57.80 and $29.71, respectively.
In addition, Mike Venuto of the Tidal Financial Group noted that Bitcoin is increasingly being integrated into options strategies within ETFs. He mentioned that various options strategies tied to Bitcoin, Nvidia, Tesla, and MicroStrategy are on the rise, indicating a growing trend in the market.
Bitcoin, the top cryptocurrency by market capitalization, is currently trading at $101,895, showing a slight decrease for the day.
The market trends and increasing demand for Bitcoin and Ethereum ETFs suggest a promising future for these digital assets within the traditional financial sector. As more investors show interest in these ETFs, it is likely that additional options strategies and investment opportunities will emerge in the market.
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