BlackRock logo is seen at its global headquarters in New York City. Source: Tada Images - stock.adobe.com

Key Takeaways:

BlackRock expects limited interest in crypto ETFs beyond Bitcoin (BTC) and Ethereum (ETH), based on client demand.
BlackRock’s BTC and ETH ETFs are highly popular, with the iShares Bitcoin Trust (IBIT) holding over $22 billion in assets.
In contrast, Franklin Templeton remains optimistic about expanding into additional cryptocurrency ETFs, such as one for Solana.

BlackRock anticipates limited interest in crypto ETFs beyond Bitcoin (BTC) and Ethereum (ETH), according to Robert Mitchnick, BlackRock’s head of digital assets.

Speaking at the Bitcoin 2024 conference, Mitchnick noted that client demand is overwhelmingly focused on BTC and, to a lesser extent, ETH.

BLACKROCK SEES LIMITED APPEAL FOR CRYPTO ETFS BEYOND BITCOIN AND ETHEREUM – DETAILS…

– Blackrock’s interest in cryptocurrencies beyond Bitcoin and Ethereum is minimal, Robert Mitchnick, head of digital assets at BlackRock, revealed.

-The asset manager doesn’t foresee funds… https://t.co/IUqkW9FqPp pic.twitter.com/EeSnTs3VQv
— BSCN (@BSCNews) July 26, 2024

Consequently, BlackRock does not foresee a proliferation of crypto ETFs beyond these two assets.

BlackRock’s BTC and ETH ETFs are among the industry’s most popular, with the iShares Bitcoin Trust (IBIT) holding over $22 billion in assets.

BlackRock Questions Expansion of Approved Crypto ETFs

After the launch of spot $ETH ETFs, one should not expect the launch of exchange-traded funds based on other altcoins. This was stated by Robert Mitchnick, Head of Digital Assets at @BlackRock.

The expert acknowledged that… pic.twitter.com/NM3rfRtrAY
— Mpost Media Group (@mpost_io) July 26, 2024

In contrast, Franklin Templeton remains optimistic about additional cryptocurrency ETFs, including one for Solana.

Mitchnick explained that BTC and ETH are seen as complementary assets by most clients, with ETH expected to eventually comprise about 20% of their crypto holdings.