VanEck Head of Digital Assets Research Makes $2 Billion Worth BlackRock Spot Bitcoin ETF Claim

VanEck Digital Assets Research Manager Matthew Sigel stated in his statement that he heard rumors that BlackRock was keeping $2 billion aside as support in case of approval of Bitcoin Spot ETFs.

Also on the Spaces broadcast are Bloomberg analysts Eric Balchunas and James Seyffart, along with FOX Business cryptocurrency journalist Eleanor Terrett.

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.