BlackRock executive: Ethereum ETF demand is just the tip of the iceberg

On December 17th, Jay Jacobs, head of thematic investing and active equity ETFs in the United States for BlackRock, stated in an interview with Bloomberg ETF analyst Eric Balchunas that demand for Ethereum ETFs is only the "tip of the iceberg," and currently only a small percentage of clients hold its Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock is still focused on bringing new clients to these ETFs, rather than focusing on launching new ETFs related to other cryptocurrencies.

Against the backdrop of the Fed's possible announcement of a rate cut this week, and market expectations that the Trump administration may establish a Bitcoin strategic reserve by 2025, analysts predict that ETH is expected to break through the historical high of $5,000 by the end of the year. ETH prices surged to $4,100 this morning, hitting a new high for the year, while Bitcoin broke through $107,000 during the same period. According to historical patterns, Ethereum typically sees a new round of growth 1-2 months after Bitcoin breaks through a new high.