BlackRock CEO Samara Cohen thinks Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) will be allocated to model portfolios by the end of this year and into 2025.
According to the financial service provider, model portfolios are a basket of different investments that have been put together by a financial advisor Morning star.
Cohen, BlackRock’s chief investment officer of ETFs and index investing, says in a new interview with Bloomberg that major wirehouses such as Morgan Stanley, Wells Fargo and UBS are currently conducting due diligence and reviewing risk assessments for the top two crypto assets.
“They obviously look at it very differently because, as we know, Bitcoin and ETH are two very different asset classes with different use cases. But [they are] looking at their role in the portfolio and especially their usefulness as a diversifier of the portfolio, and I think what will happen then towards the end of this year and next year is that we will see allocations in model portfolios, which will give us much more will give you opportunities. determine how investors use them.”
The US Securities and Exchange Commission (SEC) gave the green light to the launch of the first spot Bitcoin ETFs in January. Ethereum ETFs launched last week.
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