{"id":545238,"date":"2025-11-12T01:30:49","date_gmt":"2025-11-11T20:00:49","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=545238"},"modified":"2025-11-11T17:14:29","modified_gmt":"2025-11-11T11:44:29","slug":"heres-why-blackrock-thinks-altcoin-etfs-are-totally-worthless","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/heres-why-blackrock-thinks-altcoin-etfs-are-totally-worthless\/","title":{"rendered":"Here&#8217;s why BlackRock thinks altcoin ETFs are &#8216;totally worthless&#8217;"},"content":{"rendered":"<h2><strong>Key Takeaways\u00a0<\/strong><\/h2>\n<h3><em><span style=\"font-weight: 400;\">Why is BlackRock staying out of the altcoin ETF rush?\u00a0<\/span><\/em><\/h3>\n<p><span style=\"font-weight: 400;\">The firm views a big chunk of the market as less valuable in the long run.\u00a0<\/span><\/p>\n<h3><em><span style=\"font-weight: 400;\">How much crypto does BlackRock hold?\u00a0<\/span><\/em><\/h3>\n<p><span style=\"font-weight: 400;\">As of writing, the asset manager had $100 billion in BTC and ETH.\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">BlackRock has been conspicuously absent from the latest wave of altcoin ETF rush, particularly for <\/span><a href=\"https:\/\/ambcrypto.com\/category\/xrp-ripple-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Ripple [XRP]<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Solana [SOL]<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some had speculated that the world&#8217;s largest asset manager may jump on the trend at the last minute, but the firm appears to be comfortable with just <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> and <a href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> ETFs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a recent interview, BlackRock\u2019s Head of Digital Assets, Robert Mitchnick, said \u201cmost of the altcoins as worthless.\u201d He <\/span><a href=\"https:\/\/x.com\/EricBalchunas\/status\/1987882700846330173\"><span style=\"font-weight: 400;\">added<\/span><\/a><span style=\"font-weight: 400;\">,\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cOne has to be very wary going far down the table with hundreds of thousands of crypto assets today. The vast majority of those are or will be totally worthless.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">He added that Bitcoin still dominates the space due to a clear product-market fit, investor narrative, and a large addressable market as a digital gold. Mitchnick also backed long-term holding of BTC over risky leveraged short-term trading.<\/span><\/p>\n<h2><strong>BlackRock\u2019s crypto stance explained<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">For his part, Bloomberg ETF Analyst Eric Balchunas <\/span><a href=\"https:\/\/x.com\/EricBalchunas\/status\/1987882700846330173\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">noted<\/span><\/a><span style=\"font-weight: 400;\"> that Mitchnick\u2019s stance explained BlackRock\u2019s reluctance to explore more coins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The firm debuted its iShares Bitcoin Trust Fund (IBIT) in early January 2024, followed by an ETH-based ETF product in the second half of last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to the market correction, BlackRock currently <\/span><a href=\"https:\/\/dune.com\/hildobby\/btc-etfs\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">holds<\/span><\/a><span style=\"font-weight: 400;\"> about $84 billion worth of BTC and leads the ETF players, which now collectively control 6.8% of BTC&#8217;s total supply.\u00a0<\/span><\/p>\n<figure id=\"attachment_545245\" aria-describedby=\"caption-attachment-545245\" style=\"width: 947px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-113134.png\"><img decoding=\"async\" class=\"size-full wp-image-545245\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-113134.png\" alt=\"BlackRock crypto\" width=\"947\" height=\"415\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-113134.png 947w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-113134-300x131.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-113134-768x337.png 768w\" sizes=\"(max-width: 947px) 100vw, 947px\" \/><\/a><figcaption id=\"caption-attachment-545245\" class=\"wp-caption-text\">Source: Dune<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, the firm holds $15 billion worth of ETH, translating to over <\/span><a href=\"https:\/\/ambcrypto.com\/blackrock-crypto-holdings-cross-100b-but-eth-buys-slows\/\"><span style=\"font-weight: 400;\">$100 billion<\/span><\/a><span style=\"font-weight: 400;\"> worth of overall crypto holdings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before launching full-scale operations on crypto ETFs, BlackRock was already active in the industry behind the scenes. It has been the main manager for <a href=\"https:\/\/ambcrypto.com\/circle-mints-250-mln-usdc-on-solana-but-can-it-beat-tether\/\" target=\"_blank\" rel=\"noopener\">Circle\u2019s USDC<\/a> reserve assets.<\/span><\/p>\n<h2><strong>Tokenization becomes the next frontier<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Now, the firm plans to double down on tokenizing all traditional financial products \u2014 stocks, bonds, ETFs, and so on.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its flagship tokenized money market fund, BUIDL, has <\/span><a href=\"https:\/\/ambcrypto.com\/paypal-blackrock-fidelity-inside-ethereums-18-6b-tokenization-boom\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">grown<\/span><\/a><span style=\"font-weight: 400;\"> to nearly $3 billion in market cap. In the past year alone, BUIDL attracted over $2.3 billion in inflows, dominating the tokenized treasuries segment.\u00a0<\/span><\/p>\n<figure id=\"attachment_545246\" aria-describedby=\"caption-attachment-545246\" style=\"width: 776px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-115945.png\"><img decoding=\"async\" class=\"size-full wp-image-545246\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-115945.png\" alt=\"BlackRock\" width=\"776\" height=\"452\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-115945.png 776w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-115945-300x175.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-11-115945-768x447.png 768w\" sizes=\"(max-width: 776px) 100vw, 776px\" \/><\/a><figcaption id=\"caption-attachment-545246\" class=\"wp-caption-text\">Source: RWA<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">And the growth isn\u2019t restricted to money market funds and stablecoins; on-chain stocks have also picked up momentum. It remains to be seen how expected SEC rules will impact the tokenized market.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlackRock still hold $100B crypto despite the recent market correction <\/p>\n","protected":false},"author":79,"featured_media":545255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,35,360,32,66,3,55,4,6376,20],"tags":[],"class_list":["post-545238","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-bitcoin-news","category-btc-trading-view","category-ethereum-news","category-new-news","category-news","category-xrp-ripple-news","category-social","category-solana-news","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Here&#039;s why BlackRock thinks altcoin ETFs are &#039;totally worthless&#039; - 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