K33 Research Director: Bitcoin ETF fund flows heavily rely on BlackRock

According to a report by Jinse Finance, the latest data from Vetle Lunde, research director at K33 Research, shows that the Bitcoin ETF has risen by $26.9 billion year-to-date; however, $28.1 billion of that comes from BlackRock's IBIT product. This means that if IBIT is excluded, the overall fund flow for Bitcoin ETFs is actually negative. It is noteworthy that BlackRock will be absent from the upcoming wave of altcoin ETF markets. Analysts believe that this situation provides other competitors with the opportunity to attract strong capital flows, but at the same time may limit the overall capital size of the altcoin ETF market.

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