BlackRock is betting big on Ethereum

Six weeks ago I sat down with Gerardo Del Real to discuss the crypto markets. I went in depth on BlackRock’s increasing involvement in the crypto space, the potential of Ethereum ETFs, and their broader implications.

I highlighted that BlackRock (NYSE: BLK), the world's largest asset manager, is advancing its crypto and blockchain endeavors by launching a fund on Ethereum. This move marks a significant step toward tokenizing various asset classes, aiming to make normally illiquid assets more accessible through fractionalized ownership.

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“Larry Fink and BlackRock, the world's largest asset manager, are going more and more into crypto and blockchain. They just released their fund on Ethereum that seeks to tokenize assets. I think that they want to basically tokenize everything which will result in people being able to buy tokenized/fractionalized shares of real estate, artwork...anything that is normally not very liquid with the eventual goal of having a tokenized stock market which trades 24/7 on the blockchain.”

Larry Fink quote

The idea is that anyone could own a portion of high-value items, such as real estate or artwork, through tokenization, potentially transforming the investment landscape within the next five to ten years.

Most importantly, I expressed optimism about the likelihood of Ethereum ETF approvals following the successful debut of Bitcoin spot ETFs. I emphasized how these ETFs have already shown substantial inflows, reminiscent of the gold ETF surge in 2004, which had long-term positive effects on the price of gold. 

I predicted how the approval of Ethereum ETFs could similarly catalyze significant growth in the crypto market.

“I think Larry Fink has the bigger stick than Gary Gensler and he's going to get what he wants, so prepare…”

Keep in mind that this was when all of the Wall Street analysts were giving a 10% chance of an Ethereum ETF approval. And I’ve been preparing for this inevitability all year. 

“a lot of the projects that I've purchased in the portfolio do enable this functionality and you know one very obvious example is Ethereum as the preeminent layer 1. That's what BlackRock has just launched their BUIDL fund on which is an attempt to kind of tokenize assets.”

“So Ethereum is a big player and then multiple layer 2s that are built on top of Ethereum that help it scale because Ethereum has a major scaling issue where the fees get exponentially high for each transaction and the network slows down so that's why they've had to build kind of alternative chains on top of it and next to it to try to to help with that congestion.”

And with the imminent approval of the aforementioned Ethereum ETF, all of these assets are surging. The best part is, they are going to go much higher.

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Chris Curl

Chris Curl
Editor, Daily Profit Cycle