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Sovereign wealth funds, pension funds, and endowments are likely to unleash a new wave of capital into Bitcoin ETFs in coming months, said fund management titan BlackRock.
These money management giants are “having ongoing diligence and research conversations” regarding spot Bitcoin ETFs,<a href="https://insidebitcoins.com/news/bitcoin-etfs-record-largest-daily-outflows-as-blackrock-endures-its-first-negative-day" rel="noopener noreferrer nofollow"> BlackRock</a>‘s head of digital assets Robert Mitchnick told CoinDesk in an interview.&nbsp;
<img decoding="async" src="https://i0.wp.com/www.biztechafrica.com/wp-content/uploads/2024/02/US-Bitcoin-ETFs.webp?fit=814%2C475&amp;ssl=1" alt="US Bitcoin ETFs Crossed $10 Billion Mark in Just One Month">
<h2 id="span-style-font-weight-400-wall-street-firms-consider-solicited-offering-of-bitcoin-etfs-span">Wall Street Firms Consider Solicited Offering Of Bitcoin ETFs</h2>
Demand for spot Bitcoin ETFs has led to more than $75 billion in assets across the new investment products since their launch in January.&nbsp;
A small number of investment advisors are already offering BlackRock’s IBIT ETF on an unsolicited basis to clients. But Wall Street giant <a href="https://insidebitcoins.com/news/morgan-stanley-explores-letting-its-15000-brokers-recommend-spot-bitcoin-etfs-to-clients" rel="noopener noreferrer nofollow">Morgan Stanley</a> is now reportedly considering expanding its sale of the investment products by giving its 15,000 brokers the ability to solicit customer purchases of Bitcoin ETFs.
Up until now, investors had to explicitly ask their financial advisors about spot Bitcoin ETFs in order to invest in the funds. If advisors are able to solicit purchases, it could lead to a new wave of capital entering the products.
<h2 id="span-style-font-weight-400-inflow-streak-ending-is-no-cause-for-concern-blackrock-says-span">Inflow Streak Ending Is No Cause For Concern, BlackRock Says</h2>
Regardless of the restrictions currently imposed on advisors, the nascent spot Bitcoin ETF industry in the US experienced a strong start after posting 71 consecutive days of inflows. This streak came to an end at the start of May after hopes the <a href="https://www.federalreserve.gov/monetarypolicy/fomc.htm" rel="noopener noreferrer nofollow">Fed</a> would cut interest rates were crushed.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 So, iShares Bitcoin ETF has first day of outflows ($37mil)…
 Has taken in $15+bil ytd.
 For perspective, iShares Gold ETF has $1bil *outflows* this yr.
 SPDR Gold ETF has $3bil outflows.
 And gold is up 16% ytd.
 This is what ETFs do. Inflows don’t go up in straight line.
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1785849570552852579?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Mitchnick remains bullish towards spot <a href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-soars-10-as-morgan-stanley-mulls-offering-bitcoin-etfs-to-customers-too-late-to-buy" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs, since BlackRock is seeing a “re-initiation of the discussion around bitcoin,” he said in the interview. Central topics of these discussions relate to how institutions can allocate capital towards BTC and how portfolios can be constructed to include the crypto.&nbsp;
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Bitcoin ETFs To See New Wave Of Inflows From Sovereign Wealth Funds, Pensions, BlackRock Says

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