US crypto ETFs are pulling Bitcoiners into TradFi BlackRocks Jay Jacobs

Image for article US crypto ETFs are pulling Bitcoiners into TradFi BlackRocks Jay Jacobs
News Source : Cointelegraph

News Summary

  • iShares Bitcoin Trust, launched in January 2024, is BlackRock’s flagship crypto product with $48 billion in assets under management.
  • It holds 765,936 BTC and has been an on-ramp for many digital asset investors to engage with ETPs.
  • The company launched a new product called the iShares Bitcoin Premium Income ETF (BITA) on Wednesday, which generates income by selling covered call options on Bitcoin holdings.
  • 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.
BlackRocks spot Bitcoin exchangetraded 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.

Must read Articles