TechFlow news, December 17 — According to Cryptonews, Jay Jacobs, BlackRock’s head of thematic investing and active equity ETFs for the U.S., said in an interview with Bloomberg ETF analyst Eric Balchunas that demand for Ethereum ETFs has only shown the “tip of the iceberg,” as only a very small portion of clients currently hold its Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock remains focused on bringing new clients to these ETFs rather than launching new ETFs tied to other cryptocurrencies.
With the Federal Reserve potentially announcing rate cuts this week and market expectations that a Trump administration in 2025 might establish a strategic Bitcoin reserve, analysts project ETH could break its all-time high and surpass $5,000 by year-end. ETH price surged past $4,100 this morning, hitting a new high for the year, while Bitcoin rose above $107,000 at the same time. Historically, Ethereum tends to enter a new rally phase one to two months after Bitcoin reaches a fresh peak.
