Ethereum ETF Demand Shows Initial Growth, Says BlackRock Executive

According to BlockBeats, Jay Jacobs, the Head of Thematic Investing and Active Equity ETFs at BlackRock in the United States, discussed the emerging demand for Ethereum ETFs in an interview with Bloomberg ETF analyst Eric Balchunas. Jacobs noted that the current interest in Ethereum ETFs represents just the 'tip of the iceberg,' with only a small fraction of clients currently holding BlackRock's Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He emphasized that BlackRock remains focused on attracting new clients to these ETFs rather than launching new ETFs related to other cryptocurrencies. This statement comes amid expectations that the Federal Reserve might announce an interest rate cut this week, and market speculation that a potential Trump administration in 2025 could establish a strategic Bitcoin reserve. Analysts predict that Ethereum (ETH) could reach a new all-time high of $5,000 by the end of the year. Earlier today, ETH prices surpassed $4,100, marking a new high for the year, while Bitcoin simultaneously broke through $107,000. Historically, Ethereum tends to experience a new surge 1-2 months after Bitcoin reaches a new peak.