Funds based on cryptocurrencies Blackrock (ETFS) have become a machine generating revenues, bringing $ 260 million revenues for the largest asset manager in the world, signaling the model of “reference” of classic investment funds seeking lucrative business models.
ETF Blackrock’s Bitcoin (BTC) and Ether (ETH) generate a total of $ 260 million annual revenues, including $ 218 million from ETF Bitcoin and $ 42 million from Ether Products, According to Data provided on Tuesday by Leon Waidmann, head of research at the Onchain Onchain Foundation.
The profitability of ETF-Crypto-Crypto can drive more investment giants from classic financial space (Tradfi) to introduce regulated commercial products based on cryptocurrencies, with cryptographic ETF Blackrock for “reference point” for institutions and classic pension funds.
“This is no longer experiments. The world’s largest asset has proven that Crypto is a serious profit center. This is a quarter of a billion dollars, built almost overnight. For comparison, many unicorn fintech has not been doing it for a decade.”
Waidmann compared ETF to Amazon, which began with books before scaling to everything. He said that ETFs are “the entrance to the cryptographic world.”
Related: Hyperliquid Whale withdraws noise tokens worth USD 122 million when Arthur Hayes leaves
The augment in ETF Blackrock is seen as proof that institutions can extend the current cryptographic market cycle. According to some analysts, the influence of ETFS and corporate treasures can continue to drive demand beyond the classic four -year cycle by half in the industry.
The inclusion of cryptocurrency in the US 401 (K) retirement plans may also be the main source of capital for Bitcoin and exceed its price to USD 200,000 before the end of the year, Accoridng to André Dragosch, head of the European research at Crypto Asset Manager Bitse.
Related: Machi Gigantic Brother leaves $ 25 million from $ 4 million from Hype, because their rivals eat in the hyperlic market
ETF Blackrock’s Bitcoin is approaching a milestone worth $ 85 billion
Meanwhile, the Blackrock Fund is approaching $ 85 billion in management (AUM), which is a share of a lion or 57.5% of the total share in the ETF Bitcoin market in the United States, According to For Blockchain data from Dune.
Mile stone appears less than two years after ETFS Bitcoin debuted for the first time in the trade on January 11, 2024.
On the other hand, ETF Fidelity has only $ 22.8 billion, which is 15.4% of total market share as the second largest ETF Bitcoin in the USA.
This means that ETF Blackrock Bitcoin is 22. As for the size of the world in the world in both cryptographic and classic ETFs, compared to 31. The largest in January, According to For data from Vettafi.
Meanwhile, ETF’s influence can support Bitcoin see another rally discovering prices to the novel highest all time in the next few weeks, according to Ryan Lee, the main analyst from Bitget Exchange.
“Because ETF BTC and ETH already attract huge influence, the macro background favors the” Buy “approach, because the institutional entrance among political noise helps to strengthen the stubborn floor for risk assets,” said Cointelegraph analyst.
https://www.youtube.com/watch?v=-CPJXNAN8S4
Warehouse: Bitcoin, to see “one more big string” up to $ 150,000, ETH’s pressure builds
