BlackRock Ready To Request The ETF On Solana Next Month
Table of Contents
Crypto News
BlackRock Ready To Request The ETF On Solana Next Month
ETF
ETF
ETF
BLACKROCK
Table of Contents
BlackRock Continues To Push The Adoption Of Crypto: The ETF On Solana
The Bitcoin ETF by BlackRock surpasses 300,000 BTC in AUM
The USA Bitcoin ETFs Record Inflows
According to the latest crypto news, BlackRock is ready to request for the ETF on Solana (SOL) next month, a move that could mark an important step for the cryptocurrency and for the blockchain ecosystem in general.
BlackRock Continues To Push The Adoption Of Crypto: The ETF On Solana
In recent years, BlackRock has shown a growing interest in the world of criptovalute. Recently, the news that the financial giant is ready to apply for an ETF on Solana has sparked a great buzz in the market.
The possible approval of an ETF on SOL, in fact, would represent a further step towards the mainstream adoption of cryptocurrencies.
Furthermore, the move towards an ETF on Solana could be seen as a strategy to diversify the offerings and attract a broader audience of investors.
Solana, with its high-speed blockchain and reduced transaction costs, has gained notable popularity among developers and investors.
The introduction of an ETF on Solana by BlackRock could not only increase the legitimacy of this cryptocurrency, but also stimulate further investments and developments in its ecosystem.
In summary, the potential request for an ETF on Solana by BlackRock could represent a significant turning point for the cryptocurrency market, once again highlighting the growing importance of this sector in the global financial landscape.
The Bitcoin ETF by BlackRock surpasses 300,000 BTC in AUM
In the meantime, the exchange-traded fund IBIT spot of Bitcoin by BlackRock has surpassed 300,000 BTC (21 billion dollars) in assets under management, five months after the start of trading on January 11.
The Bitcoin ETF by BlackRock has now accumulated 302,534 BTC, according to its fund page, with about 4,920 BTC of net inflows yesterday that pushed it past the milestone.
IBIT has surpassed GBTC by Grayscale in terms of asset under management (AUM) last week, capturing the product that had an advantage over the other spot Bitcoin ETFs in assets.
GBTC originally operated as a private placement fund before transitioning to public trading on the OTC market in 2015 and its final conversion to an ETF in January.
GBTC charges a much higher fee compared to its competitors – 1.5% compared to the current 0.25% fee for IBIT by BlackRock.
His holdings in Bitcoin post-conversion have decreased by about 54% from approximately 619,220 BTC to 285,651 BTC, according to the fund’s disclosures as of Thursday.
However, given the concurrent increase in the price of bitcoin since the launch of spot ETFs, the assets under management of GBTC in US dollars have decreased less, falling by 30% from a value of 28.7 billion dollars on January 11 to 20 billion dollars at current prices.
According to the data from CoinGlass, the combined assets held by all US spot bitcoin ETFs are now nearly 883,000 BTC (63 billion dollars), which is 4.2% of the total supply of 21 million bitcoin.
The USA Bitcoin ETFs Record Inflows
Finally, in the last week, the US spot Bitcoin ETFs reached a record of net inflows for 18 consecutive days.
Adding another 217.7 million dollars to the funds, during a week that saw almost 1.7 billion dollars of net inflows.
The IBIT of BlackRock led yesterday’s net inflows with 349.9 million dollars, while the GBTC of Grayscale recorded net outflows of 37.6 million dollars.
Although daily inflows into spot Bitcoin ETFs have returned to record levels this week, the volume remains significantly lower than the peak of $9.9 billion on March 12, generating $1.4 billion in trades.
Disclaimer: The information provided is not trading advice. We in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
ItsBitcoinWorld
Other articles published on Jun 11, 2024
Crypto News
Investors Choice MoonBag Ascends As Best Crypto Presale Raising $2M, Dogeverse and ChainLink Falter
What elevates a meme coin to the top? A variety of factors contribute to declaring a meme coin as the best in the crypto market. MoonBag (MBAG) clearly embodies these factors, including innovative ...
By TheBitTimes
20m ago
•
4 mins read
Crypto News
Analysts Predictions: MoonBag Top Meme Coin Presale in 2024 is Soaring Higher Than Pepe Coin and ...
Investors are on the edge of their seats regarding the meme coin market amidst the cryptocurrency’s weakening situation. For instance, Dogeverse is ailing from transparency and a minimal APY while ...
By Optimisus
1h ago
•
5 mins read
Crypto News
BlockDAG’s Lunar Presentation Aims High with a $10 Valuation Goal, Outracing Dogecoin and NEAR by...
Amid the unpredictable fluctuations of Dogecoin’s rally and the optimistic price forecasts for Near Protocol, BlockDAG stands out with its revolutionary blockchain approach. While Dogecoin grapples...
By TheBitTimes
2h ago
•
4 mins read
Crypto News
BNB’s Price Surge Propels Binance’s CZ To Richest US Prisoner Status With $38B Net Worth
Binance Coin (BNB), the native token of the world’s largest crypto exchange Binance, recently hit an all-time high of $725 on June 6th, the first week of exchange founder Chagpeng Zhao’s (CZ) four-...
By Bitcoinist
35m ago
•
3 mins read
Crypto News
Crypto Investment Products Surge with $2 Billion Inflows in Early June, CoinShares Reports
Digital asset investment products had a strong start in June, with nearly all providers experiencing...
By Crypto Intelligence
1h ago
•
2 mins read
Crypto News
New Solana Memecoin Dog Wif M16 (DOGM16) to Explode 18,000% Within 48 Hours
Dog Wif M16 (DOGM16), a new Solana memecoin that was launched today, is poised to...
By Crypto Intelligence
2h ago
•
2 mins read
See all articles
Join the thousands already learning crypto!
