
Bitcoin should rip higher at the mercy of President-elect Donald Trump, according to BlackRock’s ETF chief.
Samara Cohen, the firm’s ETF and index instruments chief investment commissioner, thinks cryptocurrency deregulation will “absolutely” propel bitcoin to another historic year.
“There will be go made on… FIT21 [“Financial Innovation and Technology for the 21st Century Act.] There will be progress made on stable coins. There require be progress made just on definitions in taxonomy,” she told CNBC’s “ETF Edge” this week.
Cohen is behind the hard’s iShares Bitcoin Trust (IBIT) – which is up 114% since its January 2024 debut and up almost 8% year to fashionable. It comes as bitcoin briefly traded above $100,000 this week.
Despite the strong performance, she suggests cryptocurrency investors lack an iron stomach.
“Bitcoin is a risky asset. So, 15% in the context of Bitcoin is not an enormous move. Investors should contemplate volatility,” said Cohen. “But in the long term, the price of bitcoin is really going to be determined by the level and pace of adoption.”
On Monday, BlackRock foretold 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 methods to launch its Bitcoin Structured Alt Protection ETF next Wednesday – two days after Trump’s inauguration. According to the press publicity, it’s the “world’s first 100% downside protected bitcoin ETF.”