During a recent Spaces broadcast, VanEck Digital Assets Research Manager Matthew Sigel hinted at the possibility of BlackRock setting aside $2 billion in support of potential Bitcoin Spot ETF approval. The broadcast also featured insights from Bloomberg analysts Eric Balchunas and James Seyffart, as well as FOX Business cryptocurrency journalist Eleanor Terrett.
According to Sigel, he received information from a reliable source suggesting that BlackRock has amassed over $2 billion in new flows from existing Bitcoin holders in the first week alone. Although he cannot confirm this, Sigel emphasized the widespread effort to secure financial backing for these products. If the rumored $2 billion influx materializes in the initial week, it could significantly surpass current forecasts. Sigel estimated a $40 billion market opportunity within the next two years, based on historical flows into the first gold ETF and adjustments for the U.S. money supply.
It is essential to note that the information shared does not constitute investment advice.
These insights shed light on the potential impact of BlackRock’s involvement in the crypto and NFT industry, offering valuable perspectives for industry professionals and investors.
