BlackRock Executive: Advisors adopting a "cautious" attitude towards Bitcoin ETF are slowly embracing Bitcoin

According to CNBC, at the Coinbase cryptocurrency summit held in New York on Thursday, Samara Cohen, Chief Investment Officer of BlackRock ETF and Index Investments stated; based on last quarter's 13-F filings, hedge funds and brokerage firms have also been buyers. However, registered investment advisors are more "cautious", but this "caution" is part of their job responsibilities. Investment advisors act as trustees for clients in an asset class that has historically had price fluctuations up to 90%. Their job is essentially to build portfolios and conduct risk analysis and due diligence.

In addition, Cohen said she believes Bitcoin ETFs are a bridge between cryptocurrencies and traditional finance - especially for investors who may be interested in investing in Bitcoin without having to manage risks across two different ecosystems. She said that before the advent of ETFs, existing cryptocurrency investment channels were not sufficient to meet some investors' needs. Alesia Haas, CFO of Coinbase also stated that Bitcoin is "in a slow process of adoption," people need time to gradually adapt.