The cluster of whales comes in the wake of bitcoin's recent plunge from $60,000 to just under $57,000, followed by a sharp recovery. In the past 24 hours, the cryptocurrency has risen more than 4.5 percent and is currently trading at $61,700.
As CryptoGlobe reports, some institutional investors may be buying the fall: BNP Paribas, Europe's second-largest bank with more than $600 billion in assets under management, has gained exposure to the mainstream #bitcoin #cryptocurrency through spot-listed mutual funds.
According to a recent 13F filing with the U. S. Securities and Exchange Commission (SEC), the bank has acquired a stake in BlackRock's iShares Bitcoin Trust (IBIT) fund, as first reported by Bitcoin Magazine.
Large institutional investors managing assets of $100 million or more are required to disclose their assets in quarterly 13F reports, and following the successful launch of a bitcoin-listed investment trust in the US, these documents have come under scrutiny from the industry.
Specifically, #BlackRock executives said sovereign wealth funds have expressed interest in bitcoin through the company-owned iShares Bitcoin Trust #ETF (IBIT), which could begin trading in the coming months.
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