BlackRock Executive Says Bitcoin ETF Growth Driven by Financial Uses, Not Custody
JH Kim
Summary
- Jay Jacobs, BlackRock’s head of U.S. equity ETFs, said institutional interest in spot Bitcoin ETFs is being driven not by simple asset custody, but by Bitcoin’s financial utility.
- He emphasized that Bitcoin can be used as collateral like other financial assets, traded through options, and used to obtain loans.
- Jacobs said institutional investors prefer the ETF format so they can use Bitcoin in the same way as traditional financial assets.
Forecast Trend Report by Period
Institutional interest in spot Bitcoin exchange-traded funds is being driven not just by safekeeping, but by Bitcoin’s broader financial uses, Crypto Briefing reported on Sept. 18.
Jay Jacobs, BlackRock’s head of U.S. equity ETFs, said in a podcast interview that the main force behind Bitcoin’s entry into traditional financial markets through ETFs is not limited to secure custody.
He highlighted that Bitcoin can be used as collateral like other financial assets, traded via options and used as the basis for loans.
Jacobs added that institutional investors prefer the ETF structure because it allows them to use Bitcoin in ways similar to traditional financial assets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.