Market data shows that without the participation of asset management giant BlackRock, the long-awaited approval of altcoin exchange-traded funds (ETFs) may not bring the large influx of funds that investors expect.
Data indicates that BlackRock's iShares Bitcoin Trust ETF attracted $28.1 billion in investments in 2025, becoming the only fund with positive inflows year-to-date, which pushed the total cumulative inflow of spot Bitcoin ETFs to $26.9 billion.
K33 Research Director Vetle Lunde pointed out that excluding BlackRock's fund, spot Bitcoin ETFs have actually recorded a cumulative net outflow of $1.27 billion year-to-date.
Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, recently stated in an interview with Cointelegraph that the inflow into spot Bitcoin ETFs in 2025 is a major driver of BTC price momentum.
As the world's largest asset management company, BlackRock had $13.5 trillion in assets under management as of the third quarter of 2025.
Based on the dynamics observed in Bitcoin ETF investments, Lunde analyzed that BlackRock's absence in the upcoming altcoin ETF wave may limit overall fund inflows and its potential upward impact on related cryptocurrencies.
"Without BlackRock, there is no party," Lunde wrote on the X platform. "BlackRock's absence in the upcoming altcoin ETF wave provides an opportunity for competitors to secure strong funding, but overall, it may limit the scale of total fund inflows."
Despite the absence of the world's largest asset management company, some analysts remain optimistic about the next generation of ETFs.
Notably, Ryan Lee, Chief Analyst at Bitget Exchange, revealed to Cointelegraph that the first Solana (SOL) staking ETF could attract up to $6 billion in funding within its first year.
Multinational investment bank JPMorgan also predicts that based on the adoption rates of Bitcoin and Ethereum ETFs, the Solana ETF will attract between $3 billion to $6 billion, while the Ripple (XRP) ETF will attract between $4 billion to $8 billion in new investments.
The adoption rate of Bitcoin ETFs in the first six months was 6%, while Ethereum ETFs were about 3%, indicating that Bitcoin ETFs attracted approximately 6% of the total market capitalization of Bitcoin during that period.
Related: Circle launches Arc testnet, with participation from BlackRock, Goldman Sachs, and Visa
Original: “No BlackRock, No Party”: Bitcoin (BTC) and Altcoin ETF Investments Face Challenges
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