S&P 500 · Bitcoin · Bitcoin ETF · Cointelegraph
The iShares Bitcoin Trust, shipped in January 2024, is BlackRock’s flagship crypto product with $48 billion in assets
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However, Jacobs said that 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).
Key facts
- All major crypto exchanges are now offering pre-IPO perps, and trading volume has skyrocketed from around $1 billion in early May to about $22 billion, with Binance establishing itself as the largest
- The iShares Bitcoin Trust, launched in January 2024, is BlackRock’s flagship crypto product with $48 billion in assets under management
- Around three-quarters of investors in BlackRock’s iShares Bitcoin Trust ETF have never owned an ETF before, Jacobs told Cointelegraph on the Chain Reaction podcast Thursday
- However, Jacobs said that 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)
Summary
The merger of crypto, decentralized finance and traditional finance is being referred to as the “Great Convergence” at BlackRock. BlackRock’s spot Bitcoin exchange-traded fund has been a gateway for new investors to enter the wider ETF market, according to Jay Jacobs, US head of equity ETFs at BlackRock. Around three-quarters of investors in BlackRock’s iShares Bitcoin Trust ETF have never owned an ETF before, Jacobs told Cointelegraph on the Chain Reaction podcast Thursday. “IBIT was a way for traditional investors to now get into digital assets. Bitcoin ETFs were heralded as a way to bring traditional investors into the world of digital assets.