BlackRock predicts another historic year for crypto


Maturity or insecurity? Spot Bitcoin ETFs head into year 2

Bitcoin should rip higher under President-elect Donald Trump, according to BlackRock’s ETF chief.

Samara Cohen, the firm’s ETF and index instruments chief investment officer, thinks cryptocurrency deregulation will “absolutely” propel bitcoin to another historic year.

“There will be progress made on… FIT21 [“Financial Innovation and Technology for the 21st Century Act.] There will be progress made on stable coins. There will be progress made just on definitions in taxonomy,” she told CNBC’s “ETF Edge” this week.

Cohen is behind the firm’s iShares Bitcoin Trust (IBIT) – which is up 114% since its January 2024 debut and up almost 8% year to date. It comes as bitcoin briefly traded above $100,000 this week.

Despite the strong performance, she suggests cryptocurrency investors need an iron stomach.

“Bitcoin is a risky asset. So, 15% in the context of Bitcoin is not an enormous move. Investors should expect volatility,” said Cohen. “But in the long term, the price of bitcoin is really going to be determined by the level and pace of adoption.”

On Monday, BlackRock announced the official launch of its iShares Bitcoin ETF on CBOE Canada.

And, it’s not the only firm making an early year push deeper into cryptocurrency. Calamos Investments plans to launch its Bitcoin Structured Alt Protection ETF next Wednesday – two days after Trump’s inauguration. According to the press release, it’s the “world’s first 100% downside protected bitcoin ETF.”



Source link

Previous articletvOS 18.2.1 now available with bug fixes
Next articleNYT Strands today — my hints, answers and spangram for Friday, January 17 (game #320)