US crypto ETFs are pulling Bitcoiners into TradFi: BlackRock's Jay Jacobs
Cointelegraph 2026-06-19 04:16:47
Context: BlackRock's spot Bitcoin exchange-traded fund, iShares Bitcoin Trust, has been attracting new investors to the wider ETF market, with around three-quarters of its investors being new to ETFs. The fund, launched in January 2024, has $48 billion in assets under management and holds 765,936 BTC. This has led to a two-way shift, where Bitcoiners are not only entering traditional finance but also engaging with other BlackRock funds.
Key Facts
- Around three-quarters of investors in BlackRock’s iShares Bitcoin Trust ETF have never owned an ETF before, according to Jay Jacobs, US head of equity ETFs at BlackRock.
- The iShares Bitcoin Trust, launched in January 2024, is BlackRock’s flagship crypto product with $48 billion in assets under management and holds 765,936 BTC.
- BlackRock's Jay Jacobs suggests that the shift has been two-way, where Bitcoin ETFs have been a gateway for traditional investors to enter digital assets, but also for digital asset investors to engage with traditional ETFs.
- Once investors get exposure to the Bitcoin product, many start buying other BlackRock funds, such as S&P 500 (IVV), artificial intelligence (BAI), and gold (IAU).
- The growing overlap between crypto, decentralized finance, and traditional finance is being referred to as the “Great Convergence” at BlackRock, with people looking for more solutions to manage their portfolios.