US crypto ETFs are pulling Bitcoiners into TradFi: BlackRock's Jay Jacobs

BlackRock says its spot Bitcoin ETF is functioning as a bridge between crypto and traditional finance, with around three-quarters of IBIT investors reportedly new to ETFs. The firm argues the ETF is bringing traditional investors into digital assets and, conversely, helping crypto-native investors discover other BlackRock products such as S&P 500, AI, and gold funds. BlackRock frames this as part of the “Great Convergence” between TradFi, DeFi, and crypto. The article also notes BlackRock’s launch of a Bitcoin income ETF using covered calls, and broader growth in pre-IPO crypto trading volumes as crypto platforms expand access to traditional-market exposure. Overall, the piece is constructive for Bitcoin adoption and supportive of the ETF-driven institutionalization of crypto.