BlackRock executive: More and more investors from different wealth classes are looking at Bitcoin as a hedging tool

Odaily Planet Daily Report: Bitcoin has been rising all the way, breaking through the $100,000 mark. A large part of the capital demand driving the rise in Bitcoin prices has recently flowed into Bitcoin ETFs. BlackRock's thematic and active ETF US head Jay Jacobs said that since its launch in January this year, the value of the IBIT ETF has grown to over $45 billion, and its value has increased by $4.1 billion in the past month alone. Jacobs said that in addition to the election of more crypto-friendly candidates, more and more investors from different wealth levels are starting to see Bitcoin as a tool to hedge against geopolitical risks and currency devaluation caused by inflation. As ETFs become an easy-to-use way for investors to track the price trend of coin, it is only a matter of time before the mainstream market's interest in cryptocurrencies reaches a critical point. (Jin Shi)