Bitcoin ETF

Bitcoin

Spot

Billion

VanEck’s Head of Research, Matthew Sigel, recently hinted that the <a href="https://www.newsbtc.com/news/bitcoin/bloomberg-spot-bitcoin-etf/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year">Spot Bitcoin ETF</a> of the <a href="https://bitcoinist.com/blackrock-bitcoin-etf-prospectus-sec/" rel="nofollow">world’s asset manager, BlackRock</a>, could see a record-breaking amount of inflows upon launch. This comes as an approval order by the <a href="https://www.newsbtc.com/crypto/sec-announcement-crypto/#:~:text=What%20The%20SEC's%20Latest%20Announcement%20Means%20For%20The%20Crypto%20Industry,-by%20Scott%20Matherson&amp;text=A%20recent%20announcement%20by%20the,actions%20have%20had%20on%20it.">Securities and Exchange Commission</a> (SEC) looks imminent.&nbsp; 
<h2 id="blackrock-s-bitcoin-etf-could-see-inflows-of-over-2-billion">BlackRock’s Bitcoin ETF Could See Inflows Of Over $2 Billion</h2> 
Sigel mentioned on an X (formerly Twitter) space hosted by the media platform, The Block, that he heard from a reliable source that BlackRock has “more than $2 billion lined up in week one.” 
This <a href="https://bitcoinist.com/blackrock-seeded-bitcoin-spot-etf/" rel="nofollow">investment capital</a> is said to be coming from existing Bitcoin holders who are looking to increase their exposure to the <a href="https://bitcoinist.com/bitcoin-is-not-going-away/" rel="nofollow">flagship cryptocurrency</a>.&nbsp; 
He quickly added that he couldn’t be 100% certain of this information. However, it is a possibility, considering <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-spot-etf-bitwise/">that issuers</a> would be looking to get investors that can inject huge sums into their respective ETFs.&nbsp; 
Sigel went on to highlight how significant it could be if BlacRock’s ETF indeed saw $2 billion of inflows in the first week of trading, saying that it would “blow away” their <a href="https://bitcoinist.com/bitcoin-spot-etf-three-years/" rel="nofollow">initial projections</a>. They estimate that the <a href="https://www.tronweekly.com/bitcoin-etfs-inch-closer-to-approval/" target="_blank" rel="noopener nofollow">Spot Bitcoin ETFs</a> could see $2.5 billion of inflows in the first quarter of trading. Meanwhile, they believe the market could grow to $40 billion in the next two years.&nbsp; 
<h2 id="not-out-of-place-for-blackrock">Not Out Of Place For BlackRock</h2> 
Commenting on the possibility of BlackRock seeing this significant amount of inflows, <a href="https://bitcoinist.com/spot-bitcoin-etf-sec-engaging-exchange-approval/" rel="nofollow">Bloomberg analyst Eric Balchunas</a> <a href="https://x.com/EricBalchunas/status/1743373869744902178?s=20" rel="nofollow">noted</a> that such an occurrence isn’t unusual for the world’s largest asset manager. According to him, BlackRock is known for lining up and injecting big cash into new ETFs on the first day of trading. That way, it registers as volume for them.&nbsp; 
Balchunas further noted that <a href="https://www.newsbtc.com/news/bitcoin/blackrock-10-million-bitcoin/">BlackRock’s Bitcoin ETF</a>, seeing $2 billion of inflows, would shatter all records relating to first-day and week volume for an ETF. Interestingly, BlackRock already holds the record for the most successful ETF launch going by the amount of inflows recorded on day one.&nbsp; 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-568386 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/01/BlackRock-spot-bitcoin-ETF.png?w=460&amp;resize=460%2C281" alt="BlackRock spot bitcoin ETF" width="460" height="281" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/BlackRock-spot-bitcoin-ETF.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/01/BlackRock-spot-bitcoin-ETF.png?w=460&amp;resize=460%2C281 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
The world’s asset manager further dominates the top 10 list of most <a href="https://bitcoinist.com/one-year-since-bitcoin-proshares-etf-launched/" rel="nofollow">successful ETF launches</a>. Balchunas, however, clarified that those inflows were mainly lined up cash and not organic, as they were readily available before the ETF launched. He also mentioned that he got a second source to confirm Sigel’s claims that BlackRock has a big day one lined up.&nbsp; 
Meanwhile, the Bloomberg analyst provided an update on when the approval order from the SEC was likely to come. Citing multiple sources, he <a href="https://x.com/EricBalchunas/status/1743388368094756929?s=20" rel="nofollow">stated</a> that the SEC is lining up all issuers for a <a href="https://www.newsbtc.com/news/bitcoin/bloomberg-spot-bitcoin-etf/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year">potential launch</a> on January 11.&nbsp;

Bitcoin Spot ETF: VanEck’s Head Of Research Says BlackRock Has $2 Billion In Investments Lined Up

Table of Contents

NewsBTC

Other articles published on Jan 6, 2024

Bitcoin Holds Steady Amidst Anticipation of Spot Bitcoin ETF Approval

Solana (SOL) Price Plummets to $96 Amid Crypto Sell-Off

Whale Meramaikan Transaksi Bitcoin, Harga BTC Siap Melesat?

Is the Bank of England dragging its feet on rate cuts?

Bitcoin: Here's Real Catalyst for BTC's Potential 6,000% Rise — Analyst

North Korean Hackers Behind 33% of Crypto Hacks in 2023: Report

Join our free newsletter for daily crypto updates!