BlackRock's ETF Head: "Ethereum's Allure Is Utility"

IconCryptoNewsTerminal Staff22 Jul, 2024

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BlackRock's ETF Head: "Ethereum's Allure Is Utility"

BlackRock's head of active ETFs, Jay Jacobs, recently stated that Ethereum's primary appeal lies in its utility as a platform for decentralized applications. According to Jacobs, while many focus on Bitcoin's scarcity, Ethereum's true value comes from its practical applications. This viewpoint is noteworthy given BlackRock's status as the world's largest asset manager and its recent foray into digital assets. Jacobs' comments suggest that institutional investors are increasingly recognizing the potential of Ethereum's underlying technology.