It looks like BlackRock is seeing a bit of demand for Ethereum from its clients. Check out the latest reports about this below.
BlackRock’s clients demand ETH
The head of digital assets at BlackRock, Robert Mitchnick, has revealed that clients have comparatively less interest in Ethereum than in Bitcoin.
“I can say that for our client base, bitcoin is overwhelmingly the number one focus and a little bit Ethereum,” he said during a fireside chat at the Friday Bitcoin Investor Day conference in New York.
Mitchnick, the asset manager at BlackRock, was asked about the possibility of launching an exchange-traded fund (ETF) related to the memecoin dogwifhat (WIF).
However, he stated that he was not familiar with the asset and mentioned that there is a misconception within the crypto industry that BlackRock will offer a “long tail” of other services.
“That’s really not what we’re focused on,” he said.
In January, BlackRock received approval to offer the Bitcoin Fund (IBIT) to investors, bringing about a bullish optimism in the digital assets market.
Within two months of trading, the IBIT fund became one of the top five ETFs in the market, attracting $15 billion in assets, which is significantly more than any of the other nine funds.
Not too long ago, I revealed that the financial giants BlackRock and Fidelity now own a combined 372,227 BTC for their spot Bitcoin ETFs. Here are the latest reports about the companies below.
Here is the tweet that’s circulating on X:
JUST IN: 🇺🇸 BlackRock and Fidelity now own a combined 372,227 #BTC worth $23.5 billion for their spot #Bitcoin ETFs. pic.twitter.com/9IayWsok5O
— Bitcoin Magazine (@BitcoinMagazine) March 19, 2024
Recently, it has been revealed that the global Bitcoin funds are draining assets amidst the US ETF boom. Here are the reports on BTC funds and their trajectory.