Wall Street anticipates Ethereum reaching $14,000 by 2025, as BlackRock’s dominance in cryptocurrency ETFs grows, with Larry Fink shifting focus to tokenizing ether following recent approval of a spot ETF.
Just over a week after Grayscale CEO Michael Sonnenschein abruptly resigned amid persistent, relentless outflows (thanks to GBTC’s 1.5% in fees), and a month and a half after we first noticed that the world’s largest bitcoin fund, Grayscale’s GBTC, had lost more than half of its assets since the approval of spot bitcoin ETFs in January in what was the year’s first, and far less memorable “halving” event, the flipping has officially taken place.
Now that today’s ETF flows are in the books, the inevitable has finally occurred: BlackRock’s IBIT added $101.9 million, surpassing GBTC’s $105.2 million withdrawal in its largest one-day outflow in over two weeks. BlackRock’s IBIT now has $19.795 billion in bitcoin, or roughly 288,670 bitcoin, compared to $19.758 billion for GBTC, making it the largest ETF globally.
Thus, now that he holds the title of largest bitcoin ETF globally, Larry Fink is free to concentrate on the one asset he really wants to see tokenized in the financial markets: ether. This asset recently received approval as a spot ETF late last week, and Blackrock will soon take the lead as the second-largest cryptocurrency begins its ascent to $14,000 at some point in 2025, all with Fink’s blessing.
Recently, GreatGameIndia reported that in a post on X, the National Association of Cryptocurrencies of Venezuela announced the country has banned crypto mining to protect the power grid.
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