BlackRock Executive Says BTC ETF Growth Driven by Financialization, Not Custody

BlackRock's U.S. equity ETF head Jay Jacobs said in a podcast interview that institutional investors' interest in Bitcoin ETFs is driven by financialization, not mere custody. According to CryptoBriefing, he explained that the key factor for Bitcoin's integration into traditional finance via ETFs isn't secure storage but the ability to use it as collateral, trade options, and obtain loans—making it function like other financial assets. He noted that ETF structure was preferred specifically to enable Bitcoin's adoption as a conventional financial instrument.