The long-awaited approval of altcoin Exchange Traded Funds (ETFs) may not deliver the massive inflows investors expect without the involvement of asset management giant BlackRock, according to market data.
BlackRock’s iShares Bitcoin Trust ETF received $28.1 billion in investments in 2025, the only fund with positive year-to-date (YTD) inflows, bringing total spot Bitcoin ETF inflows to a cumulative $26.9 billion.
Without BlackRock, spot Bitcoin ETFs have seen cumulative net outflows of $1.27 billion year-to-date, According to to K33 research chief Vetle Lunde.
Inflows from Bitcoin spot ETFs were the main driver of Bitcoin (BTC) price momentum in 2025, Standard Chartered’s global head of digital asset research Geoff Kendrick recently told Cointelegraph.
BlackRock is the world’s largest asset management firm, with $13.5 trillion in assets under management as of the third quarter 2025.
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BlackRock’s absence could burst the bubble in the altcoin ETF party
Based on the dynamics seen in Bitcoin ETF investments, Lunde says BlackRock’s absence from the altcoin ETF wave could limit total inflows and their potential positive impact on the underlying cryptocurrencies.
“No BlackRock, no party,” Lunde wrote on X. “BlackRock is absent from the coming altcoin ETF wave. Opportunity for competitors to secure strong flows, but online, likely limiting overall flows.”
Related: Treasury cryptocurrencies are sucking $800 billion from altcoins, and it could continue ‘forever’
Despite the lack of involvement from the world’s largest asset manager, some analysts remain confident about the next generation of ETFs.
Notably, the first ETF investing in Solana (SOL) could attract as much as $6 billion in capital within the first year, Bitget’s chief exchange analyst Ryan Lee told Cointelegraph.
International investment bank JPMorgan also predicted that the Solana ETF would attract between $3 billion and $6 billion and the XRP ETF would raise between $4 billion and $8 billion in modern investments, based on the adoption rate of Bitcoin and Ether ETFs.
The adoption rate of Bitcoin ETFs was 6% and Ether ETFs were around 3% in the first six months, meaning Bitcoin ETFs attracted around 6% of the total BTC market capitalization during this period.
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