Key Points
- Investment company BlackRock has hired Matt Kunke, previously a GSR research analyst, as a director and product strategist.
- Kunke had predicted a 75% likelihood of a spot Ether ETF being approved by May.
BlackRock, a prominent investment firm, has brought on board Matt Kunke, a former GSR research analyst. Kunke's role at BlackRock will be as a director and product strategist, with a focus on iShares digital assets ETFs.
While at GSR, Kunke made a prediction in January that Ethereum ETFs had a 75% chance of getting approval by May. His positive forecast was based on the Court of Appeals victory of Grayscale and the subsequent approval of Ethereum Futures ETF. Kunke stated that these developments indicated the approval of a spot Ethereum ETF was imminent.
Prior Experiences and BlackRock's Crypto Endeavors
Before his tenure at GSR, Kunke was in charge of the crypto research vertical at Global X ETFs. He also served as a portfolio manager on the Blockchain & Bitcoin Strategy ETF. His previous experience also includes roles at JPMorgan and Credit Suisse.
BlackRock has been a frontrunner in the crypto ETFs space, initiating with Bitcoin. Its IBIT bitcoin ETF has attracted $12.7 billion of bitcoin since its inception in January. Presently, it holds a 47% market share in spot bitcoin ETF trading volumes.
On the Ethereum front, BlackRock has submitted an application to launch a spot Ethereum ETF. However, the SEC has not given its approval yet. Current predictions are less optimistic about the approval being granted by May.
