BlackRock’s Perspective on Its Bitcoin Spot ETF
The Bitcoin Spot ETF from BlackRock is attracting both individual investors and newcomers. BlackRock is focused on educating clients and financial advisors about Bitcoin. The BlackRock and Fidelity Bitcoin spot ETFs are dominating in terms of new capital.
ETF Coveted by Both Individuals and Institutional Investors
Rachel Aguirre, head of iShares products at BlackRock in the United States, revealed that the company’s Bitcoin spot ETF (IBIT) is generating interest from various types of investors, including individuals and self-directed investors. Of course, these investors mostly have millions of dollars in funds.
She also highlighted the interest of investors ready to invest from day one, as well as those who are just beginning to explore this new asset class.
BlackRock has not commented on the inclusion of Bitcoin in its model portfolios, but it emphasizes the education of clients and financial advisors about Bitcoin.
What I will say is that, once again for our clients, we are striving to understand what the training needs are to support them throughout their investment journey and empower them to make financially informed decisions,” said Rachel Aguirre.
BlackRock and Fidelity’s Dominance in the Bitcoin ETF Market
In just 10 days, the 11 recently approved Bitcoin spot ETFs by the SEC in the United States have crossed the $10 billion mark in total transaction volume. Just yesterday, the ETFs recorded over $2.2 billion in volume.
BlackRock and Fidelity are leading the race, with BlackRock recording $710 million in fund inflows and Fidelity with $524 million in the first three days of trading. On the other hand, Grayscale saw $1.2 billion in outflows for its converted ETF fund.
The predicted $100 billion mark in inflows by some expert analysts may well be surpassed in the coming weeks/months.