VanEck Digital Assets Research Manager Matthew Sigel said in his statement that BlackRock Bitcoin He revealed that he had heard rumors that he was keeping $2 billion on the sidelines as support in case of approval of spot ETFs.
In the same Spaces broadcast, FOX Business with Bloomberg analysts Eric Balchunas and James Seyffart cryptocurrency journalist Eleanor Terrett is also present.
Bloomberg ETF analyst Eric Balchunas said in a Spaces broadcast that he expects 19b-4 applications to arrive today and that they cannot be filed without being approved by the SEC.
Sigel said in his full statement:
“I hear from a highly placed source that Blackrock has accumulated over $2 billion in new additional flows from existing Bitcoin holders adding to their positions in week one, but I can’t vouch for that. But you know, that’s what everyone does. We’re just making phone calls and trying to find people who can write checks for these products. Our estimates are that if that $2 billion hits in the first week, it would blow our forecasts out of whack. We’re at $2.5 billion in the first quarter of our trading, looking at historical flows into the first gold ETF and adjusting for the U.S. money supply. And based on similar analysis, we have a $40 billion market opportunity within two years.”
*This is not investment advice.
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