BlackRock ETF Head: 80% of Bitcoin Exchange Traded Product Buyers Are Direct Investors

On Oct. 20, spot bitcoin exchange-traded funds saw net inflows of more than $2.1 billion over the past five trading days, with BlackRock accounting for half of those sales, Samara Cohen, chief investment officer for ETFs and indices at BlackRock, said one of the strategies to attract clients to its funds is to introduce cryptocurrency investors to the benefits of exchange-traded products (ETPs), and that investors are now are mostly new cryptocurrency enthusiasts, with data showing that 80% of sellers are now direct investors, and of that 80% of direct investors, 75% have never held an iShare, in addition to a16z finding over 40 million Americans hold cryptocurrencies in its recently released State of Cryptocurrency report. (CNBC)