A senior BlackRock official stated that if Asian investors allocate just 1% of their portfolios to cryptocurrencies, it could result in approximately $2 trillion flowing into the digital asset market. With domestic wealth in Asia totaling around $108 trillion, even minor shifts can significantly impact the crypto sector. Nicholas Peich highlighted at a seminar in Hong Kong that financial advisors recommending a 1% crypto allocation in typical Asian investment strategies could drive substantial market inflows. BlackRock’s iShares crypto exchange-traded funds (ETFs) have received strong interest from Asian investors, steadily increasing their assets under management.
BlackRock’s US-listed spot Bitcoin ETF, IBIT, launched in January 2024, now manages over $53 billion, with Asian investors playing a crucial role in its growth. Countries like Hong Kong, Japan, and South Korea are also taking steps to permit and promote crypto ETFs, signaling growing institutional acceptance in the region. Last year, BlackRock CEO Larry Fink revised his stance on Bitcoin, recognizing it as a valuable asset despite its volatility and market risks. Fink noted that Bitcoin could serve as a protective investment against financial uncertainty, geopolitical tensions, and currency devaluation.
BlackRock has also introduced its iShares Bitcoin ETF in Australia, providing investors there with a regulated and traditional avenue for Bitcoin exposure. Although Bitcoin’s price has recently declined, experts anticipate it may stabilize between $60,000 and $80,000 in the near future. These developments suggest increasing cryptocurrency investment in Asia, which would significantly benefit the global digital asset market.
Source: bitcoinmagazine
