{"id":106929,"date":"2026-06-21T10:36:46","date_gmt":"2026-06-21T10:36:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=106929"},"modified":"2026-06-21T10:36:46","modified_gmt":"2026-06-21T10:36:46","slug":"75-of-blackrock-ibit-etf-buyers-were-tradfi-virgins-now-theyre-buying-spx-funds","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=106929","title":{"rendered":"75% of BlackRock IBIT ETF Buyers Were TradFi Virgins: Now They\u2019re Buying SPX Funds"},"content":{"rendered":"<div>\n<p>In BlackRock Bitcoin news today, three-quarters of investors in BlackRock\u2019s iShares Bitcoin Trust ETF had never owned an ETF before buying it, and once inside, many began buying S&amp;P 500 funds, gold ETFs, and AI products from the same issuer.<\/p>\n<p>The narrative was always that Wall Street money would flow into crypto through these wrappers. The data says something more interesting is happening in the opposite direction.<\/p>\n<p><iframe loading=\"lazy\" title=\"The Fed is about to BLOW UP Bitcoin! Crypto Holders Are WRONG!\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/poxOzmSvxzE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>The central tension in this story: Bitcoin ETFs were engineered as an on-ramp for traditional investors entering digital assets, but they are increasingly functioning as an on-ramp for crypto-native investors entering TradFi,\u00a0and BlackRock is the destination.<\/p>\n<p>This revelation from BlackRock came as Bitcoin USD fell -3% overnight, dropping from over $64,000 to under $62,400, with investors fearing $60,000 is on the way.<\/p>\n<h2>BlackRock Bitcoin News: The Reverse Adoption Numbers Behind IBIT<\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f7e2.png\" alt=\"\ud83d\udfe2\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> BlackRock&#8217;s Jay Jacobs just said <a href=\"https:\/\/x.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">$BTC<\/a> is now too big to ignore and has real utility<\/p>\n<p>This is the same BlackRock that manages trillions and runs the biggest spot Bitcoin ETF\u2026.they also recntly said Bitcoin is behaving differntly from stocks and is becoming an alternative\u2026 <a href=\"https:\/\/t.co\/lcMl3aX94Y\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/lcMl3aX94Y<\/a><\/p>\n<p>\u2014 SBlockSpy (@SBlockspy) <a href=\"https:\/\/x.com\/SBlockspy\/status\/2067647547062235643?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">June 18, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Jay Jacobs, US head of equity ETFs at BlackRock, disclosed the 75% figure in an interview on Cointelegraph\u2019s Chain Reaction podcast on June 19. \u201cIBIT was a way for traditional investors to now get into digital assets,\u201d Jacobs said. \u201cBut we have seen a lot of people really kind of enter into IBIT, starting with digital asset ETPs.\u201d<\/p>\n<p>The iShares Bitcoin Trust ETF (IBIT), launched in January 2024, now holds 765,936 BTC and carries $48 billion in assets under management, making it the largest spot Bitcoin ETF by AUM. That scale matters because the cross-selling pattern Jacobs describes is not a rounding error \u2013 it represents a structurally new investor cohort being absorbed into BlackRock\u2019s broader product lineup.<\/p>\n<p>Once IBIT investors are in the ecosystem, Jacobs noted, many proceed to purchase BlackRock\u2019s S&amp;P 500 ETF (IVV), its gold fund (IAU), and its AI-focused product (BAI). For Bitcoin maximalists who spent years arguing that BTC made traditional index funds obsolete, there is a certain irony in that sequence. <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/bitcoin-etf-outflow-streak-wall-street-buying-back\/\" target=\"_blank\" rel=\"noopener\">Wall Street has been buying back into Bitcoin ETFs<\/a> through exactly this kind of product architecture.<\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coin-icos\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Best Meme Coin ICOs to Invest in 2026<\/a><\/strong><\/p>\n<h2>What BITA Reveals About BlackRock\u2019s Next Move<\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-350309 size-full\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33.png\" alt=\"In BlackRock Bitcoin news, the asset manager revealed 75% of IBIT investors had never owned an ETF before, but are now buying S&amp;P futures\" width=\"2052\" height=\"1546\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33.png 2052w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33-300x226.png 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33-1024x771.png 1024w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33-768x579.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33-1536x1157.png 1536w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33-2048x1543.png 2048w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-19-at-10.19.33-50x38.png 50w\" sizes=\"(max-width: 2052px) 100vw, 2052px\"><\/p>\n<p>(<a class=\"general-link\" href=\"https:\/\/www.blackrock.com\/us\/individual\/products\/350678\/ishares-bitcoin-premium-income-etf\" target=\"_blank\" rel=\"noopener nofollow\">SOURCE: BlackRock.com<\/a>)<\/p>\n<p>In other BlackRock Bitcoin news, on Wednesday (June 17), BlackRock launched the iShares Bitcoin Premium Income ETF (BITA), a product that generates monthly income by selling covered call options on Bitcoin holdings.<\/p>\n<p>A covered call strategy means the fund writes options contracts that give a buyer the right to purchase Bitcoin at a set price, collecting the premium as income while capping some of the upside. It is a yield-generation structure borrowed directly from equity income funds, now applied to a crypto asset.<\/p>\n<p>BITA is not designed for someone who wants maximum Bitcoin exposure. It targets yield-seeking investors, retirees, income allocators, and RIA model portfolios that want BTC in the mix but need cash flow.<\/p>\n<p><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/blackrock-bita-etf-bitcoin-income-covered-call\/\" target=\"_blank\" rel=\"noopener\">BlackRock\u2019s BITA launch<\/a> signals that the firm is now building product architecture around Bitcoin the way it does for equities: spot exposure, income variants, and eventually options overlays at scale.<\/p>\n<p>Jacobs has indicated BlackRock\u2019s near-term roadmap stays focused on scaling IBIT and its Ethereum equivalent (ETHA) rather than launching altcoin ETFs \u2013 only a small fraction of the firm\u2019s clients currently hold either product, suggesting significant headroom before the firm needs to expand the token roster.<\/p>\n<p class=\"p1\"><a href=\"https:\/\/bs_3009e3ec.jeweltype.care\/?referrer=https%3A%2F%2F99bitcoins.com%2Fnews%2Fpresales%2Fxlm-price-breakout-analysis%2F&amp;transfer=1\" class=\"sc-button sc-button-green sc-button-medium\" target=\"_blank\" rel=\"nofollow\"><span>EXCLUSIVE: Earn $10 USDC Via Binance Sign-Up<\/span><\/a>\n<\/p>\n<h2>The Great Convergence Thesis and Where Pre-IPO Perps Fit<\/h2>\n<p>BlackRock refers to the merging of DeFi and TradFi as the \u201cGreat Convergence,\u201d suggesting a shift from a competitive mindset to one of collaboration. Jacobs notes that the focus will increasingly be on integrating both worlds.<\/p>\n<p>A recent example occurred during the SpaceX IPO, where crypto traders accessed pre-IPO exposure via perpetual futures, with trading volume skyrocketing from about $1Bn in early May to around $22Bn.<\/p>\n<p>Binance led the way as the largest trading venue, reflecting a trend where crypto traders are creating their own structures and later adapting them to fit regulatory frameworks. The growing interest in Bitcoin ETFs, including Fidelity\u2019s FBTC, underscores the increasing demand.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/best-crypto-presale\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Best Crypto Presales With Asymmetric Upside in the Current Market<\/a><\/strong><\/p>\n<div><strong>Follow\u00a0<a class=\"general-link\" href=\"https:\/\/twitter.com\/99bitcoins\" target=\"_blank\" rel=\"noopener nofollow\">99Bitcoins on X<\/a>\u00a0For the Latest Market Updates and\u00a0<a class=\"general-link\" href=\"https:\/\/www.youtube.com\/@99Bitcoins\" target=\"_blank\" rel=\"noopener nofollow\">Subscribe on YouTube<\/a>\u00a0For Daily Expert Market Analysis.<\/strong><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/blackrock-bitcoin-news-ibit-reverse-adoption-blackrock-crypto-tradfi\/\">75% of BlackRock IBIT ETF Buyers Were TradFi Virgins: Now They\u2019re Buying SPX Funds<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In BlackRock Bitcoin news today, three-quarters of investors in BlackRock\u2019s iShares Bitcoin Trust ETF had never owned an ETF before buying it, and once inside, many began buying S&amp;P 500 funds, gold ETFs, and AI products from the same issuer. The narrative was always that Wall Street money would flow into crypto through these wrappers. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-106929","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/106929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=106929"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/106929\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=106929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=106929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=106929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}