New York-based asset management firm, BlackRock has raised alarm about the incessant attempts by crypto scammers to lure investors of its iShares spot Bitcoin and Ether exchange-traded funds (ETF). The investment firm made the call on Monday via a post on its official page on X (formerly Twitter).
In the post, BlackRock issued a statement dishing out a caution to bad actors trying to impersonate the firm on social media. The firm explained how hackers often pose as its representatives claiming to offer training to investors.
Consequently, BlackRock went on to urge investors to avoid any form of interaction with anyone claiming to work with the firm on social media. According to the firm, scammers now target investors through platforms like WhatsApp and Telegram.
It is worth mentioning that BlackRock has recorded more inflows than other U.S.-approved spot BTC ETF providers in total. As revealed, the investment firm has more assets under management than all its nine competitors in the U.S.
Growing Attention On Crypto
Following the approval of the spot BTC ETF in January, there has been more attention from the traditional finance sphere on the cryptocurrency landscape. The increased attention triggered a massive influx of institutional investors into the virtual assets market.
In less than seven (7)) months after the approval, the United States Security and Exchange Commission (SEC) has also approved applications for spot Ether ETF. Recall that in July, the U.S. SEC approved applications for spot Ether ETF.
Hence, the development allowed investors in the United States of America to access spot ETFs for two of the largest cryptocurrencies by trading volume.
Interest In Crypto Limited To Bitcoin and Ethereum – BlackRock Executive
Furthermore, a segment of the cryptocurrency community is optimistic that other top digital assets like SOL, BNB, BCH, and many others may follow suit. This group of enthusiasts explained that the approval of BTC and Ether ETF is an indication that institutional investors now have a growing appetite for crypto-related investment opportunities.
In contrast, the head of digital assets, Robert Mitchnick, argued that BlackRock noticed investors are showing little interest in crypto beyond Bitcoin and Ethereum. The executive added that within the firm’s fanbase, investors would prefer BTC first, then Ethereum with little interest in others.Â
Similarly, Mitchnick opined that investors now allocate 20% of their crypto holdings to ETH with the rest to BTC.
Read More: