BlackRock says US crypto ETFs are bringing Bitcoin investors into traditional finance

BlackRock says its US crypto exchange-traded funds are drawing Bitcoin investors into traditional finance, according to executive Jay Jacobs. He described the growing overlap between crypto, decentralized finance and traditional finance as the “Great Convergence.”

The development matters because it suggests crypto exposure is increasingly being accessed through mainstream financial channels rather than only through native crypto platforms. That shift could influence how investors, asset managers and other financial firms approach product design, distribution and client education.

BlackRock’s comments also point to a broader industry trend in which digital assets are becoming more integrated with established market infrastructure. For crypto companies and TradFi firms alike, that convergence may affect how they compete for users who want access to Bitcoin without leaving traditional brokerage and fund frameworks.

The framing reflects a growing view inside major financial institutions that crypto is no longer operating entirely outside the traditional system. Instead, products like Bitcoin ETFs may be helping bridge the gap between the two ecosystems.