Summary
- K33 Research said global asset manager BlackRock accounted for the majority of U.S. Bitcoin ETF inflows.
- It said that other Bitcoin ETFs excluding BlackRock were actually in net outflow.
- It said concerns were raised that BlackRock's absence could negatively affect the growth of the altcoin ETF market.
Global asset manager BlackRock accounted for the majority of inflows into U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) this year, raising concerns about the growth potential of the altcoin ETF market.
According to CoinDesk on the 28th (local time), K33 Research said in a report, "BlackRock accounted for $28.1 billion of this year's U.S. spot Bitcoin ETF inflows ($26.9 billion)," adding, "excluding BlackRock, the remaining ETFs actually experienced net outflows of $1.27 billion."
It continued, "If BlackRock had not been present, the investment flow into Bitcoin ETFs would have turned negative," and "this could limit the growth of altcoin ETF markets in which BlackRock does not participate." It described this as "No BlackRock, no party."
Meanwhile, despite BlackRock's absence, some experts offered optimistic forecasts for initial inflows into altcoin ETFs. Ryan Lee, a Bitget analyst, predicted, "The U.S.'s first Solana staking ETF could see up to $6 billion of inflows in its first year."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
