Bitcoin must rip upper below President-elect Donald Trump, in step with BlackRock’s ETF eminent.
Samara Cohen, the company’s ETF and index tools eminent funding officer, thinks cryptocurrency deregulation will “absolutely” propel bitcoin to some other historical time.
“There can be exit made on… FIT21 [“Financial Innovation and Technology for the 21st Century Act.] There can be exit made on strong cash. There can be exit made simply on definitions in taxonomy,” she told CNBC’s “ETF Edge” this week.
Cohen is behind the firm’s iShares Bitcoin Trust (IBIT) – which is up 114% since its January 2024 debut and up almost 8% year to date. It comes as bitcoin briefly traded above $100,000 this week.
Despite the strong performance, she suggests cryptocurrency investors need an iron stomach.
“Bitcoin is a dangerous asset. So, 15% within the context of Bitcoin isn’t a huge go. Buyers must be expecting volatility,” said Cohen. “However in the longer term, the cost of bitcoin is in reality moving to be ambitious by way of the extent and future of adoption.”
On Monday, BlackRock announced the official launch of its iShares Bitcoin ETF on CBOE Canada.
And, it’s not the only firm making an early year push deeper into cryptocurrency. Calamos Investments plans to launch its Bitcoin Structured Alt Protection ETF next Wednesday – two days after Trump’s inauguration. According to the press release, it’s the “global’s first 100% problem safe bitcoin ETF.”
