BlackRock’s spot Bitcoin exchange-traded fund has been a gateway for new investors to enter the wider ETF market, according to Jay Jacobs, US head of equity ETFs at BlackRock. 

Around three-quarters of investors in BlackRock’s iShares Bitcoin Trust ETF have never owned an ETF before, Jacobs told Cointelegraph on the Chain Reaction podcast Thursday. 

“IBIT was a way for traditional investors to now get into digital assets. But we have seen a lot of people really kind of enter into IBIT, starting with digital asset ETPs,” he said. 

Bitcoin ETFs were heralded as a way to bring traditional investors into the world of digital assets. BlackRock’s Jacob suggests the shift has been two-way. 

The iShares Bitcoin Trust, launched in…