BlackRock, the world's largest asset manager, is signaling that Bitcoin and Ethereum continue to be the dominant cryptocurrencies attracting investor interest. This perspective comes as BlackRock expands its offerings in the crypto exchange-traded fund (ETF) space, including the recent launch of a staked Ethereum ETF. Robert Mitchnick, BlackRock's head of digital assets, highlighted that while there's awareness of other crypto assets, the focus remains largely on Bitcoin and Ethereum.
Speaking on CNBC following the launch of BlackRock's ETHB staked ether ETF, Mitchnick stated Bitcoin commands approximately 60% of crypto market share while Ethereum holds the low teens. BlackRock's IBIT Bitcoin ETF saw substantial inflows in 2025, even amidst Bitcoin's price volatility. Mitchnick described Bitcoin as a “digital gold emerging monetary alternative” while calling Ethereum as “a technology centric bet around blockchain innovation and the various use cases of ether and digital assets."
BlackRock's ETHB, the iShares Staked Ethereum Trust, began trading on Nasdaq on March 12, offering investors the opportunity to earn staking rewards on their Ethereum holdings. The fund stakes between 70% and 95% of its ether holdings through Coinbase Prime, distributing approximately 82% of gross staking rewards to investors monthly. BlackRock also has a Bitcoin Premium Income ETF in the works, which would sell covered call options on Bitcoin futures, collecting premiums to generate yield.
Despite exploring new products, BlackRock emphasizes a "discerning approach" to expanding its crypto ETF lineup. Mitchnick noted that over 90% of Bitcoin ETF investors, including retail, financial advisors, and institutions, have followed a steady accumulation strategy. This suggests a long-term investment outlook among the majority of BlackRock's crypto ETF holders.
