BlackRock ETF Chief Says 'Still Very Early Days' For Bitcoin, Ethereum

Core Viewpoint - BlackRock's U.S. head of equity ETFs, Jay Jacobs, indicates that despite significant inflows, crypto ETFs are still in their early stages as financial advisors have only recently gained access to these investment vehicles [1][2]. Group 1: Financial Advisor Access and Education - Many investors are beginning their educational journey regarding Bitcoin and its role in investment portfolios [2]. - Financial advisors, who previously lacked access to crypto, are now able to invest in products like the iShares Bitcoin Trust ETF (IBIT) as their platforms approve these options [2][3]. - BlackRock is focusing on educating advisors about crypto's behavior in various market conditions and its role alongside traditional assets like stocks and bonds [3]. Group 2: Investor Behavior and ETF Performance - IBIT has accumulated tens of billions in assets since its launch less than two years ago, indicating a growing interest in crypto investments [3]. - Despite price volatility in 2025, IBIT had one of its best years for asset gathering, suggesting that ETF investors are committed to long-term allocations rather than reacting to short-term price changes [4][5]. - ETF investors are treating Bitcoin and Ethereum as long-term investments, contrasting with direct crypto holders who tend to trade more frequently [5]. Group 3: Implications for Crypto Markets - The narrative of institutional adoption has been a key driver of crypto's rally in 2024-2025, but actual capital flow from advisors and institutions is still increasing [6]. - If crypto ETFs are indeed in their early days, inflows could continue for years as more advisors complete their due diligence [7]. - This sustained interest could provide a stable demand for crypto markets that is less affected by short-term volatility [7].