BlackRock Won’t Consider Exotic Crypto ETFs

Robert Mitchnick, head of BlackRock’s digital assets, said the $14 trillion asset manager will not get too creative with crypto exchange-traded funds, even after launching a staking-focused Ether ETF on Thursday. Speaking on CNBC’s Crypto World, he acknowledged that some of the structures other managers are trying “will be interesting” and “will resonate with investors,” but added, “We will take a discerning approach in thinking about where else we would expand in this.” Mitchnick said overwhelming investor interest remains in Bitcoin (BTC) and Ether (ETH), though BlackRock sees “pockets of interest in some of the other assets as well.” The firm will continue to evaluate those opportunities as maturity, liquidity, scale and use cases develop, and will be selective about what it puts into an iShares ETF.

BlackRock launched the iShares Staked Ethereum Trust (ETHB) on Thursday; it recorded over $15.5 million in trading volume and $43.5 million in inflows on debut, according to Farside Investors data.

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