📣 BlackRock buys major Bitcoin ETFs

Bitcoin ETFs have attracted significant attention, driving Bitcoin prices to unprecedented heights. However, recent trends suggest that this surge may not be sustainable in the long term. Despite some fluctuations, the net inflow remained relatively stable. This article explores the latest developments regarding BlackRock's involvement in Bitcoin ETFs.

🔸 What is BlackRock's BTC ETF Strategy?

According to recent filings with the US Securities and Exchange Commission, BlackRock has initiated holdings in bitcoin ETFs in two of its funds. The financial giant purchased these ETFs from its own launched BTC ETF, IBIT. In particular, the BlackRock Strategic Income Opportunities and BlackRock Strategic Global Bond funds invested $3.6 million and $400,000, respectively.

BlackRock's IBIT ETF has seen strong returns since its debut in January, outperforming other funds in the market. It is poised to soon become the leader in total reserves. Hundreds of companies have diversified their portfolios with various Bitcoin ETFs, with IBIT being a popular choice.#binance #etf