BlackRock executive: Bitcoin ETF is a bridge between cryptocurrency and traditional finance

Odaily Odaily News Samara Cohen, chief investment officer of BlackRock ETF and index investment, said at the Coinbase Cryptocurrency Summit in New York that Bitcoin ETF is a bridge between cryptocurrency and traditional finance, especially for investors who may be interested in allocating Bitcoin without having to manage risks in two different ecosystems. She said that before the emergence of ETFs, the existing cryptocurrency market was not sufficient to meet the needs of some investors. Currently, about 80% of Bitcoin ETF purchases may come from "self-directed investors", who are usually configured through online brokerage accounts. According to last quarter's 13-F filings, hedge funds and brokerage firms have also become buyers, but registered investment advisors are somewhat more "cautious." Financial advisors' concerns about Bitcoin include cryptocurrency price volatility and its relatively short record. (CNBC)