Bitcoin ETFs Will See New Wave of Inflows from SWFs and Pensions, BlackRock Says

Sovereign wealth funds, pension funds and endowments are likely to unleash a new wave of capital into bitcoin ETFs in the coming months, fund management titan BlackRock said.

These money management giants are “having ongoing diligence and research conversations” regarding spot bitcoin ETFs, BlackRock head of digital assets Robert Mitchnick told CoinDesk in an interview.

<img decoding="async" alt="US bitcoin ETFs surpassed $10 billion mark in just one month” src=”https://i0.wp.com/www.biztechafrica.com/wp-content/uploads/2024/02/US-bitcoin-ETFs.webp?fit=814%2C475&ssl=1″/><img decoding="async" src="https://i0.wp.com/www.biztechafrica.com/wp-content/uploads/2024/02/US-bitcoin-ETFs.webp?fit=814%2C475&ssl=1″ alt=”US bitcoin ETFs surpassed $10 billion mark in just one month”/>

Wall Street Firms Consider Requested bitcoin ETF Offering

Demand for spot bitcoin ETFs has generated more than $75 billion in assets in the new investment products since their launch in January.

A small number of investment advisors are already offering the BlackRock IBIT ETF to their clients without their request. But Wall Street Giant Morgan Stanley It is now reportedly considering expanding its sale of investment products by giving its 15,000 brokers the ability to solicit clients for bitcoin ETF purchases.

Until now, investors had to explicitly ask their financial advisors about spot bitcoin ETFs in order to invest in the funds. If advisors can solicit buyouts, it could lead to a new wave of capital flowing into the products.

End of inflow streak no cause for concern, says BlackRock

Regardless of the restrictions currently placed on advisors, the nascent bitcoin ETF spot industry in the US saw a strong start after recording 71 consecutive days of inflows. This streak came to an end in early May following hopes of fed would reduce interest rates were crushed.

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So, the iShares bitcoin ETF has the first day of exits ($37 million)…

It has raised more than $15 billion so far this year.

For perspective, the iShares Gold ETF has $1 billion *outflows* this year.

SPDR Gold ETF has outflows of $3 billion.

And gold is up 16% year to date.

This is what ETFs do. Capital inflows do not increase in a straight line.

– Nate Geraci (@NateGeraci) twitter.com/NateGeraci/status/1785849570552852579?ref_src=twsrc%5Etfw”>May 2, 2024

Mitchnick remains optimistic towards the point bitcoin ETF, as BlackRock is seeing a “restart of the bitcoin debate,” he said in the interview. The central themes of these discussions relate to how institutions can allocate capital towards btc and how portfolios can be built to include cryptocurrencies.

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