{"id":144732,"date":"2024-12-13T21:00:02","date_gmt":"2024-12-13T19:00:02","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144732"},"modified":"2024-12-13T16:48:44","modified_gmt":"2024-12-13T14:48:44","slug":"blackrock-leaves-altcoins-behind-focuses-on-bitcoin-and-ethereum-etfs","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/blackrock-leaves-altcoins-behind-focuses-on-bitcoin-and-ethereum-etfs\/","title":{"rendered":"BlackRock Leaves Altcoins Behind, Focuses on Bitcoin and Ethereum ETFs"},"content":{"rendered":"<p>Instead, the company is prioritizing the expansion of its successful <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>(IBIT) and <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum<\/a> <\/strong>(ETHA) ETFs, which have seen impressive performance milestones this year.<\/p>\n<p>Jay Jacobs, head of BlackRock\u2019s ETF division, recently <strong><a href=\"https:\/\/x.com\/EricBalchunas\/status\/1867315163566629059\">confirmed<\/a> <\/strong>that the firm does not plan to introduce new altcoin-based ETFs. He explained that, given the strong performance of Bitcoin and Ethereum ETFs, the company\u2019s efforts will remain concentrated on these assets. Jacobs noted that only a small portion of BlackRock\u2019s clients currently own IBIT and ETHA, indicating significant room for growth.<\/p>\n<p>BlackRock\u2019s decision to focus on Bitcoin and Ethereum reflects its strategy of solidifying its position in the cryptocurrency market with these more established assets. The firm\u2019s Bitcoin ETF recently surpassed over 50 European funds in trading volume, while its Ethereum ETF hit the $1 billion mark in just two months, signaling increasing institutional interest.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/u-s-bitcoin-investor-sentenced-for-4m-tax-evasion\/\" title=\"U.S. Bitcoin Investor Sentenced for $4M Tax Evasion\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/08\/guilty-court-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">U.S. Bitcoin Investor Sentenced for $4M Tax Evasion<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Despite the growth of its existing offerings, BlackRock remains cautious about altcoins, such as Solana (<strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/solana\/\">SOL<\/a><\/strong>) and <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/xrp\/\">XRP<\/a><\/strong>. Robert Mitchnick, BlackRock\u2019s head of digital assets, highlighted the challenges altcoins face in meeting the necessary thresholds of liquidity and maturity for investment. BlackRock\u2019s stance on XRP ETFs is likely influenced by ongoing regulatory uncertainties surrounding the token.<\/p>\n<p>This strategic approach is consistent with BlackRock\u2019s overall conservative investment philosophy, which has led the firm to recommend that institutions allocate up to 2% of their portfolios to Bitcoin. While BlackRock is currently uninterested in altcoin ETFs, some analysts believe that, under a new U.S. administration, altcoin ETF approval could become more likely by 2025 or 2026.<\/p>\n<p>As other firms begin exploring altcoin ETFs, BlackRock\u2019s unwavering focus on Bitcoin and Ethereum underscores its position as a leader in institutional crypto investments, shaping the future of the digital asset market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlackRock, the largest asset management firm globally, is doubling down on Bitcoin and Ethereum while stepping away from the idea of launching Exchange-Traded Funds (ETFs) focused on altcoins.<\/p>\n","protected":false},"author":9,"featured_media":31268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-144732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BlackRock Leaves Altcoins Behind, Focuses on Bitcoin and Ethereum ETFs<\/title>\n<meta name=\"description\" content=\"BlackRock, the largest asset management firm globally, is doubling down on Bitcoin and Ethereum while stepping away from the idea ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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