BlackRock says 75% of IBIT buyers are first-time ETF investors

BlackRock has revealed that 75% of buyers of its spot Bitcoin ETF (IBIT) had never owned an ETF before, indicating that crypto ETFs are pulling digital asset investors into traditional finance products.

According to Jay Jacobs, BlackRock's head of thematic and active ETFs, the data suggests a "Great Convergence" between crypto, decentralized finance, and traditional finance. The finding implies that crypto-native investors who previously only held digital assets are now gaining exposure to traditional financial instruments through the ETF wrapper. This trend could broaden the investor base for both crypto and traditional markets, as ETF familiarity may lead to increased allocation to other products.

For crypto traders, this convergence signals growing institutional acceptance and potential for deeper liquidity in digital asset markets. As more investors enter through regulated products like IBIT, market dynamics may shift toward more traditional trading patterns. NowPrice's crypto page tracks real-time prices for Bitcoin and other digital assets, providing context for these evolving flows. Looking ahead, the success of crypto ETFs could pave the way for more hybrid products, further blurring the lines between crypto and TradFi.