Bitcoin should rise even higher under President-elect Donald Trump, according to BlackRock’s head of ETFs.
Samara Cohen, the firm’s chief investment officer for ETFs and index products, believes crypto deregulation will “absolutely” propel Bitcoin into another historic year.
“We will see progress in FIT21.” [“Financial Innovation and Technology for the 21st Century Act.] We will see progress on stablecoins. You’re going to see progress just in defining the taxonomy,” she said on CNBC’s “ETF Edge” this week.
Cohen is behind the firm’s iShares Bitcoin Trust (IBIT), which is up 114% since its debut in January 2024 and almost 8% year-to-date. The move comes after Bitcoin briefly traded above $100,000 this week.
Despite the strong performance, she suggests that crypto investors need a stomach of iron.
“Bitcoin is a risk asset, so 15% in the context of Bitcoin is not a huge move. Investors should expect volatility,” Cohen said. “But in the long run, Bitcoin’s price will really be determined by the level and pace of adoption.”
On Monday, BlackRock announced the official launch of the iShares Bitcoin ETF at CBOE Canada.
And it’s not the only company to delve deeper into cryptocurrencies earlier this year. Calamos Investments plans to launch its Bitcoin Structured Alt Protection ETF next Wednesday, two days after President Trump’s inauguration. According to a press release, this is “the world’s first 100% downside protected Bitcoin ETF.”