The possibility of a BlackRock ETF on Hedera is attracting attention to HBAR, which is currently trading at around $0.24. Let's discuss how this might affect the price.
Significance of a BlackRock ETF
When BlackRock enters the crypto market, it signals to traditional finance that the asset is 'legit.' We previously saw how ETF filings for Bitcoin and Ethereum attracted significant investment and new investors.
Possible Price Impact on HBAR
Looking at previous examples, after BlackRock's ETF filings, Bitcoin rose about 70%, and Ethereum jumped over 50%. HBAR, with its smaller market cap, could experience sharper price increases. Possible price ranges may vary from $0.40-$0.50 in the short term to over $2 in the long run.
Current Situation and Speculation
However, it's important to note that BlackRock has not filed for a Hedera ETF. Their only link to Hedera currently involves the tokenization of their money market fund through Archax. As of now, the actual price remains at $0.24, but in cryptocurrencies, situations can change rapidly.
The potential for a BlackRock ETF inspires interest in HBAR and discussion among investors. While this is currently just speculation, any changes could provoke a strong market reaction.
