📣 BlackRock Starts Shilling Ethereum
posted 23 Jul 2024
Jay Jacobs, BlackRock's Head of Thematic and Active ETFs, explained the primary allure of ETH compared to BTC while presenting the company's spot Ethereum ETF to investors. He emphasized that Bitcoin's main attraction is its scarcity, whereas Ethereum's appeal lies in its versatility.
Jacobs highlighted Ethereum as a programmable blockchain for a variety of assets and applications, describing it as a global platform where ETH is used for transaction fees.
With trading set to begin, companies are promoting themselves in different ways. Grayscale, for instance, has introduced the lowest fee for its Ethereum Mini Trust (excluding initial discounts).
In contrast, Bitwise has pledged to donate 10% of the profits from its spot Ethereum ETF (ETHW) to Ethereum developers, specifically Protocol Guild and PBS Foundation (with the potential for changes in recipients over time). The issuer notes that these donations will be made annually over the next 10 years.
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