Now that exchange-traded funds (ETFs) are trading on U.S. major bourses, top-tier asset managers who were previously unable to access crypto now have a way to invest in the original cryptocurrency.
For the $30 trillion wealth management industry, this could mean a massive influx of funds.
Blockchain expert Fiorenzo Manganiello expects that once the floodgates open, cryptocurrency ETFs will form 5% of hedge fund and pension fund portfolios by 2025.
As investors are now able to access bitcoin the same way they buy stocks, BlackRock (NYSE:)’s spot Bitcoin ETF has accumulated $16.7 billion in assets since its launch in January 2024.
Moreover, the Ether ETF is poised to gain final approval from the US Securities and Exchange Commission (SEC) this summer.
“[W]ith BlackRock bearing the standard for crypto pick-up among institutional investors, you can only predict others will follow. It’s only…
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