Cointelegraph reported that BlackRock’s Jay Jacobs described US crypto ETFs as a channel drawing Bitcoiners into traditional finance, commonly referred to as TradFi. The article’s headline specifically points to BlackRock’s IBIT and the broader role of US crypto ETFs in connecting Bitcoin users with established financial products.
Within BlackRock, the combination of crypto, decentralized finance and traditional finance is being called the “Great Convergence.” Based on the information provided, the phrase refers to the overlap among three areas: digital asset markets, DeFi applications and the existing financial system that includes products such as ETFs and asset management vehicles.
The report was published by Cointelegraph under its hot articles category. Its central point is Jacobs’ view that US crypto ETFs are bringing Bitcoin users closer to TradFi, alongside BlackRock’s internal framing of crypto, DeFi and traditional finance coming together under the “Great Convergence” label.