BlackRock To Add Crypto ETF In Its Model Portfolios By Year End

IconCryptoNewsTerminal Staff29 Jul, 2024

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BlackRock To Add Crypto ETF In Its Model Portfolios By Year End

BlackRock's chief investment officer, Samara Cohen, said the firm plans to add the iShares Ether Trust ETF (ETA) to its model portfolios by the end of the year in an interview with Bloomberg. Cohen said the firm is "very excited" about the potential of cryptocurrencies and believes they have a role to play in a diversified portfolio. The iShares Ether Trust ETF is a passively managed fund that tracks the price of ether, the second-largest cryptocurrency by market capitalization. The ETF was launched in April 2021 and has quickly become one of the most popular ways for investors to gain exposure to ether. Cohen's comments are a significant development for the cryptocurrency industry. BlackRock is one of the world's largest asset managers, with over $10 trillion in assets under management. The firm's decision to add a crypto ETF to its model portfolios could help to legitimize cryptocurrencies and make them more accessible to mainstream investors.

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