#CreatorPad Djerachi also noted the growing popularity of Ethereum among institutional investors, referring to Matthew Sigel's opinion that Bitcoin's dominance is decreasing as banks, fintech companies, and corporations adopt stablecoins, many of which operate on open-source blockchains like Ethereum.

Low Demand Outside of Bitcoin and Ethereum

BlackRock executives have repeatedly noted that client interest in cryptocurrencies outside of Bitcoin and Ethereum remains minimal. In December, BeInCrypto reported that Robert Mitchnik, head of BlackRock's digital assets division, stated that demand for other crypto-ETFs is "very low."

"I don't think we will see a long list of crypto-ETFs. Bitcoin today accounts for about 55% of market capitalization, Ethereum - 18%. The next potential investment asset is around 3%. It has not yet reached the threshold of maturity and liquidity," Mitchnik said.

Jay Jacobs, head of the ETF division at BlackRock, stated that the company does not plan to launch new ETFs focused on altcoins. Jacobs also emphasized the company's intention to expand the reach of existing ETFs on Bitcoin and Ethereum, which are showing excellent performance.

"We are only at the top