{"id":55374,"date":"2025-10-28T18:30:05","date_gmt":"2025-10-28T15:30:05","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=55374"},"modified":"2025-10-28T17:29:29","modified_gmt":"2025-10-28T14:29:29","slug":"k33-research-no-blackrock-no-party-for-bitcoin-and-altcoin-etfs","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/k33-research-no-blackrock-no-party-for-bitcoin-and-altcoin-etfs\/","title":{"rendered":"K33 Research: \u201cNo BlackRock, No Party\u201d for Bitcoin and Altcoin ETFs"},"content":{"rendered":"

The year 2025 has been a defining moment for crypto exchange-traded funds (ETFs), but new data from K33<\/a> Research<\/strong> suggests that the entire market\u2019s positive momentum may be tied to just one player \u2014 BlackRock<\/strong><\/a>. According to the firm\u2019s analysis, Bitcoin ETF inflows would have turned negative without the asset management giant\u2019s participation, raising questions about the outlook for upcoming altcoin ETFs.<\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n

  • The BlackRock Effect on Bitcoin ETFs<\/a><\/li>
  • \u201cNo BlackRock, No Party\u201d for Altcoin ETFs<\/a><\/li>
  • Analysts Still See Promise in Altcoin ETFs<\/a><\/li><\/ul><\/nav><\/div>\n

    <\/span>The BlackRock Effect on Bitcoin ETFs<\/span><\/h2>\n

    BlackRock\u2019s iShares Bitcoin Trust ETF dominated the ETF landscape throughout 2025, drawing $28.1 billion in investments \u2014 making it the only fund with net positive inflows this year. Collectively, Bitcoin spot ETFs have recorded $26.9 billion in total inflows.<\/p>\n

    However, K33\u2019s head of research Vetle Lunde highlighted that without BlackRock\u2019s influence, Bitcoin ETFs would have experienced a $1.27 billion net outflow. This underlines how crucial the firm\u2019s involvement has been in sustaining Bitcoin\u2019s bullish momentum throughout the year.<\/p>\n

    Supporting this view, Geoff Kendrick, global head of digital assets research at Standard Chartered, emphasized that inflows from spot Bitcoin ETFs have been the primary driver<\/em> behind Bitcoin\u2019s price strength in 2025.<\/p>\n

    <\/span>\u201cNo BlackRock, No Party\u201d for Altcoin ETFs<\/span><\/h2>\n

    With $13.5 trillion in assets under management as of Q3 2025, BlackRock remains the world\u2019s largest asset manager. Yet, its absence from the next wave of altcoin ETFs could significantly limit potential inflows and investor enthusiasm.<\/p>\n

    Vetle Lunde summarized this sentiment bluntly in a post on X: \u201cNo BlackRock, no party.\u201d While this may create an opportunity for competitors, Lunde noted that overall capital flows are likely to remain constrained without BlackRock\u2019s participation.<\/p>\n

    <\/span>Analysts Still See Promise in Altcoin ETFs<\/span><\/h2>\n

    Despite concerns, some analysts remain optimistic about the prospects for altcoin-based ETFs. Ryan Lee, chief analyst at Bitget Exchange, projected that the first Solana staking ETF could attract as much as $6 billion within its first year.<\/p>\n

    Similarly, JPMorgan analysts expect a Solana ETF to bring in between $3 billion and $6 billion, while an XRP ETF could draw $4 billion to $8 billion in new investments.<\/p>\n

    For context, Bitcoin ETFs captured roughly 6% of BTC\u2019s total market capitalization during their first six months, while Ether ETFs reached around 3% in the same period \u2014 setting a benchmark for future altcoin products.<\/p>\n

    What is BlackRock?<\/a><\/p><\/blockquote>\n