In BlackRock Bitcoin news today, three-quarters of investors in BlackRock\u2019s iShares Bitcoin Trust ETF had never owned an ETF before buying it, and once inside, many began buying S&P 500 funds, gold ETFs, and AI products from the same issuer.<\/p>\n
The narrative was always that Wall Street money would flow into crypto through these wrappers. The data says something more interesting is happening in the opposite direction.<\/p>\n\n
The central tension in this story: Bitcoin ETFs were engineered as an on-ramp for traditional investors entering digital assets, but they are increasingly functioning as an on-ramp for crypto-native investors entering TradFi,\u00a0and BlackRock is the destination.<\/p>\n
This revelation from BlackRock came as Bitcoin USD fell -3% overnight, dropping from over $64,000 to under $62,400, with investors fearing $60,000 is on the way.<\/p>\n
BlackRock’s Jay Jacobs just said $BTC<\/a> is now too big to ignore and has real utility<\/p>\n This is the same BlackRock that manages trillions and runs the biggest spot Bitcoin ETF\u2026.they also recntly said Bitcoin is behaving differntly from stocks and is becoming an alternative\u2026 pic.twitter.com\/lcMl3aX94Y<\/a><\/p>\n \u2014 SBlockSpy (@SBlockspy) June 18, 2026<\/a><\/p>\n\n Jay Jacobs, US head of equity ETFs at BlackRock, disclosed the 75% figure in an interview on Cointelegraph\u2019s Chain Reaction podcast on June 19. \u201cIBIT was a way for traditional investors to now get into digital assets,\u201d Jacobs said. \u201cBut we have seen a lot of people really kind of enter into IBIT, starting with digital asset ETPs.\u201d<\/p>\n The iShares Bitcoin Trust ETF (IBIT), launched in January 2024, now holds 765,936 BTC and carries $48 billion in assets under management, making it the largest spot Bitcoin ETF by AUM. That scale matters because the cross-selling pattern Jacobs describes is not a rounding error \u2013 it represents a structurally new investor cohort being absorbed into BlackRock\u2019s broader product lineup.<\/p>\n Once IBIT investors are in the ecosystem, Jacobs noted, many proceed to purchase BlackRock\u2019s S&P 500 ETF (IVV), its gold fund (IAU), and its AI-focused product (BAI). For Bitcoin maximalists who spent years arguing that BTC made traditional index funds obsolete, there is a certain irony in that sequence. Wall Street has been buying back into Bitcoin ETFs<\/a> through exactly this kind of product architecture.<\/p>\n DISCOVER:\u00a0Best Meme Coin ICOs to Invest in 2026<\/a><\/strong><\/p>\n (SOURCE: BlackRock.com<\/a>)<\/p>\n In other BlackRock Bitcoin news, on Wednesday (June 17), BlackRock launched the iShares Bitcoin Premium Income ETF (BITA), a product that generates monthly income by selling covered call options on Bitcoin holdings.<\/p>\n A covered call strategy means the fund writes options contracts that give a buyer the right to purchase Bitcoin at a set price, collecting the premium as income while capping some of the upside. It is a yield-generation structure borrowed directly from equity income funds, now applied to a crypto asset.<\/p>\n BITA is not designed for someone who wants maximum Bitcoin exposure. It targets yield-seeking investors, retirees, income allocators, and RIA model portfolios that want BTC in the mix but need cash flow.<\/p>\n BlackRock\u2019s BITA launch<\/a> signals that the firm is now building product architecture around Bitcoin the way it does for equities: spot exposure, income variants, and eventually options overlays at scale.<\/p>\n Jacobs has indicated BlackRock\u2019s near-term roadmap stays focused on scaling IBIT and its Ethereum equivalent (ETHA) rather than launching altcoin ETFs \u2013 only a small fraction of the firm\u2019s clients currently hold either product, suggesting significant headroom before the firm needs to expand the token roster.<\/p>\n EXCLUSIVE: Earn $10 USDC Via Binance Sign-Up<\/span><\/a>\n<\/p>\n BlackRock refers to the merging of DeFi and TradFi as the \u201cGreat Convergence,\u201d suggesting a shift from a competitive mindset to one of collaboration. Jacobs notes that the focus will increasingly be on integrating both worlds.<\/p>\n A recent example occurred during the SpaceX IPO, where crypto traders accessed pre-IPO exposure via perpetual futures, with trading volume skyrocketing from about $1Bn in early May to around $22Bn.<\/p>\n Binance led the way as the largest trading venue, reflecting a trend where crypto traders are creating their own structures and later adapting them to fit regulatory frameworks. The growing interest in Bitcoin ETFs, including Fidelity\u2019s FBTC, underscores the increasing demand.<\/p>\n EXPLORE:\u00a0Best Crypto Presales With Asymmetric Upside in the Current Market<\/a><\/strong><\/p>\n The post 75% of BlackRock IBIT ETF Buyers Were TradFi Virgins: Now They\u2019re Buying SPX Funds<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" In BlackRock Bitcoin news today, three-quarters of investors in BlackRock\u2019s iShares Bitcoin Trust ETF had never owned an ETF before buying it, and once inside, many began buying S&P 500 funds, gold ETFs, and AI products from the same issuer. The narrative was always that Wall Street money would flow into crypto through these wrappers. […]<\/p>\n","protected":false},"author":0,"featured_media":184538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-184537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/184537"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=184537"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/184537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/184538"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=184537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=184537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=184537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What BITA Reveals About BlackRock\u2019s Next Move<\/h2>\n\n
The Great Convergence Thesis and Where Pre-IPO Perps Fit<\/h2>\n