US crypto ETFs are pulling Bitcoiners into TradFi: BlackRock's Jay Jacobs
Summary
BlackRock says its Bitcoin ETF is bringing new investors into its broader TradFi ETF lineup. Jay Jacobs says many IBIT holders had never owned an ETF before, and some later move into other BlackRock funds. The company frames this as part of a wider “Great Convergence” between crypto, DeFi, and traditional finance. BlackRock also launched a new Bitcoin Premium Income ETF that generates income through covered call options on Bitcoin holdings. The piece highlights growing overlap between crypto products and mainstream investment vehicles.
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