VanEck’s Head of Research, Matthew Sigel, recently hinted that the Spot Bitcoin ETF of the world’s asset manager, BlackRock, could see a record-breaking amount of inflows upon launch. This comes as an approval order by the Securities and Exchange Commission (SEC) looks imminent. BlackRock’s Bitcoin ETF Could See Inflows Of Over $2 Billion Sigel mentioned on an X (formerly Twitter) space hosted by the media platform, The Block, that he heard from a reliable source that BlackRock has “more than $2 billion lined up in week one.” Related Reading: Shiba Inu’s Shibarium Hit Major Milestone Amid Rapid Network Recovery This investment capital is said to be coming from existing Bitcoin holders who are looking to increase their exposure to the flagship cryptocurrency. He quickly added that he couldn’t be 100% certain of this information. However, it is a possibility, considering that issuers would be looking to get investors that can inject huge sums into their respective ETFs. Sigel went on to highlight how significant it could be if BlacRock’s ETF indeed saw $2 billion of inflows in the first week of trading, saying that it would “blow away” their initial projections. They estimate that the Spot Bitcoin ETFs could see $2.5 billion of inflows in the first quarter of trading. Meanwhile, they believe the market could grow to $40 billion in the next two years. BTC price struggles to reclaim $44,000 | Source: BTCUSD on Tradingview.com Not Out Of Place For BlackRock Commenting on the possibility of BlackRock seeing this significant amount of inflows, Bloomberg analyst Eric Balchunas noted that such an occurrence isn’t unusual for the world’s largest asset manager. According to him, BlackRock is known for lining up and injecting big cash into new ETFs on the first day of trading. That way, it registers as volume for them. Related Reading: New Report Predicts When The XRP Price Will Cross $1.56 Balchunas further noted that BlackRock’s Bitcoin ETF, seeing $2 billion of inflows, would shatter all records relating to first-day and week volume for an ETF. Interestingly, BlackRock already holds the record for the most successful ETF launch going by the amount of inflows recorded on day one. The world’s asset manager further dominates the top 10 list of most successful ETF launches. Balchunas, however, clarified that those inflows were mainly lined up cash and not organic, as they were readily available before the ETF launched. He also mentioned that he got a second source to confirm Sigel’s claims that BlackRock has a big day one lined up. Meanwhile, the Bloomberg analyst provided an update on when the approval order from the SEC was likely to come. Citing multiple sources, he stated that the SEC is lining up all issuers for a potential launch on January 11. Featured image from Decrypt, chart from Tradingview.com
Crypto Analyst Predicts Big Bitcoin Surg
