Cointelegraph reported that BlackRock’s Jay Jacobs said US crypto ETFs are drawing Bitcoiners into the traditional finance system. The article’s framing also refers to BlackRock’s IBIT, describing it as part of the channel through which users connected to Bitcoin and the broader crypto ecosystem are being brought into TradFi.
Within BlackRock, the merger of crypto, decentralized finance and traditional finance is being referred to as the “Great Convergence.” The term centers on the connection between three areas that have often been discussed separately: crypto assets, DeFi and established financial markets.
The Cointelegraph item is focused on the remarks from the BlackRock executive rather than on market data. Based on the provided information, no additional figures on trading activity, fund flows or price performance were included. The core point is the relationship between US crypto ETFs, Bitcoin users and traditional finance, together with BlackRock’s internal label for that convergence.