BlackRock, the world’s largest asset management company, recently held a private event with Bitcoin as the theme. Steven Lubka, Managing Director of Swan Bitcoin and Head of Private Clients and Family Office, shared his insights on the event with clients via email, clarifying BlackRock’s stance on BTC and its impact on investors. In summary, Steven Lubka drew four key insights from the event.
The first point is that “BlackRock held an exclusive event for its ‘top clients’ to promote spot Bitcoin ETFs”, indicating that BlackRock is actively promoting Bitcoin and its related investments through their resources.
The second point is that BlackRock acknowledges that “traditional finance’s interest in Bitcoin is growing”. Senior BlackRock executives expressed surprise that individuals who they never expected to reach out with investment inquiries were calling them. This indicates a significant shift in the traditional finance sector’s views on Bitcoin. Steven Lubka stated, “If these individuals surprised BlackRock, they certainly surprised us. It can be expected that this bull market may see some unexpected participants.”
The third point, which Steven Lubka believes may be the biggest revelation from the event, is that BlackRock’s quantitative analysts advocate allocating 28% of investment portfolios to Bitcoin. He views this as not only a bold recommendation but also representative of how traditional investment firms perceive the role of cryptocurrencies in asset diversification.
The fourth point is that BlackRock plans to leverage its extensive distribution network to promote Bitcoin and its ETF products, highlighting the company’s commitment to integrating digital assets into mainstream investment portfolios. It is worth mentioning that BlackRock recently announced a partnership with B3, the operator of the Brazilian Stock Exchange, to launch the first Bitcoin spot ETF BDR – iShares Bitcoin Trust ETF BDR in Brazil, which aligns with this point.
(Supplement: As this product is issued in Brazil and supported by foreign stocks, it is defined as a Brazilian Depositary Receipt (BDR), also known as ETF BDR.)
Although this meeting was a private event for top clients, Steven Lubka believes that BlackRock is likely to further expand this information to their entire client base in the future.
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