BlackRock, the world’s largest asset management company, recently held a private event with Bitcoin as the main theme. Steven Lubka, Managing Director of Swan Bitcoin, shared his experience of participating in this event with clients through email, clarifying BlackRock’s attitude towards BTC and its impact on investors. Overall, Steven Lubka summarized four insights from this event.
The first point is that “BlackRock organized an exclusive event for its ‘top clients’ to promote spot Bitcoin ETF”, which means that BlackRock is actively promoting Bitcoin and its related investments through their resources.
The second point is that BlackRock acknowledges the “growing interest of traditional finance in Bitcoin”. Senior executives at BlackRock stated during the meeting that they were surprised to receive calls from people who they never expected to proactively inquire about Bitcoin-related investment issues. This indicates a significant shift in the traditional financial sector’s view of Bitcoin. Steven Lubka stated, “If these people surprised BlackRock, they certainly surprised us as well. It can be expected that this bull market may see unexpected participants.”
The third point, which Steven Lubka believes is possibly the biggest insight of this event, is that BlackRock’s quantitative analysts advocate for investors to allocate 28% of their investment portfolio to Bitcoin. Steven Lubka believes that this is not only a bold recommendation but also represents how traditional investment companies view the role of cryptocurrencies in asset diversification.
The fourth point is that BlackRock plans to use its extensive distribution network to promote Bitcoin and its ETF products, highlighting the company’s commitment to incorporating digital assets into mainstream investment portfolios. It is worth mentioning that BlackRock recently announced a partnership with B3, the operator of the Brazilian stock exchange, to launch the first Bitcoin spot ETF BDR – iShares Bitcoin Trust ETF BDR in Brazil, which perfectly aligns with this point.
(Note: As the product is issued in Brazil and supported by overseas stocks, it is defined as Brazilian Depositary Receipts (BDR) and also referred to as ETF BDR.)
Although this meeting was a private event for top clients, Steven Lubka believes that BlackRock is likely to further expand this information to their entire client base in the future.
