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Cryptocurrency News Articles

BlackRock Expects Bitcoin (BTC) and Other Cryptocurrencies to Experience a Historic Year as President-elect Donald Trump Prepares to Take Office

Jan 17, 2025 at 11:01 pm

BlackRock Expects Bitcoin (BTC) and Other Cryptocurrencies to Experience a Historic Year as President-elect Donald Trump Prepares to Take Office

BlackRock (NYSE:BLK) expects Bitcoin (BTC) and other cryptocurrencies to have a historic year as President-elect Donald Trump prepares to take office, according to Samara Cohen, the firm's chief investment officer for exchange-traded funds (ETFs).

Cohen pointed to potential deregulation under the new administration as a key factor driving optimism. She oversees BlackRock's iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF in the U.S., which had about $50 billion in assets under management as of the latest data. Bitcoin rose 5.40% to $102,855, adding over $5,270 in value as of 09:46 AM ET, reflecting continued bullish sentiment in the crypto market.

The iShares Bitcoin Trust has surged over 110% since launching in January roli濤涛s, tracking Bitcoin's price rally. BlackRock recently expanded the fund to Canada and expects more spot Bitcoin ETFs to hit the market following Trump's inauguration. Despite the positive outlook, Cohen cautioned investors about ongoing volatility. Bitcoin is a risky asset, and investors should expect volatility, she said in a recent TV interview.

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Other articles published on Mar 19, 2025