Samara Cohen, Chief Investment Officer of BlackRock ETF, was asked about the progress of large securities firms such as Morgan Stanley, Wells Fargo, and UBS in introducing and promoting cryptocurrency ETFs during an interview with Bloomberg on July 29th.

Cryptocurrency ETFs will be included in the 'standard investment portfolio'

Samara Cohen pointed out that these securities firms are currently conducting risk analysis, due diligence, and considering the roles of Bitcoin (BTC) and Ethereum (ETH) in their investment portfolios. Samara Cohen predicts that by the end of 2024, cryptocurrency ETFs may be included in the 'Model Portfolio'. Samara Cohen said:

As we move forward towards the end of this year and next year, we will see the allocation of these standard investment portfolios, which will provide us with more guidance on how investors should allocate them (cryptocurrency ETFs)

The 'standard investment portfolio' provided by large securities service brokers typically adopts a diversified investment strategy, with the goal of balancing risk and return based on a clear strategy. These standard investment portfolios can be seen as pre-set investment strategies, like ready-made templates designed for investment. BlackRock expects the managed assets of its standard investment portfolio to grow from the current $4.2 trillion to $10 trillion by 2028.

How to view Ethereum ETF

On the other hand, when asked about the recently listed Ethereum ETFs, Samara Cohen stated that Bitcoin and Ethereum are two very different asset classes with different purposes, but they are useful as "portfolio diversification tools".

However, since its launch, Ethereum ETFs have faced serious net outflows of funds. According to Sosovalue's data, the total net outflow of the Ethereum ETF since its listing has exceeded $400 million. These net outflows mainly come from ETHE, with an outflow of approximately $1.7 billion.

Samara Cohen expressed that she is not concerned about this, as the launch of these ETFs themselves is successful and they provide an entry point for investors who want to add Ethereum to their investment portfolios to achieve this goal.

She pointed out that some high cost ETFs have recently experienced a significant outflow of funds (possibly referring to gray ETFEs), as well as some alternative investment tools used for Ethereum exposure, but he is not worried, for the reason that:

Investors really want to increase their exposure to Ethereum, especially when they have enough confidence in the entire ecosystem and want to include Ethereum in their overall investment portfolio

I won't see any other cryptocurrency ETFs in the short term

On the other hand, when discussing whether cryptocurrencies such as Solana are also likely to successfully launch ETFs, Samara Cohen asserted that it is unlikely to see spot ETFs for other altcoins in the foreseeable future, as no cryptocurrency can meet the same ETF listing standards as Bitcoin and Ethereum in the current market.

It is worth mentioning that Robert Mitchnick, the head of digital assets at BlackRock, had previously expressed the same view at the Bitcoin 2024 conference.