Bitcoin Surges to $68,400 as BlackRock Buys More ETF Shares! 🚀
Bitcoin has soared back above $68,000, reaching $68,400 after dipping to $67,200. This rebound comes as BlackRock's funds have snapped up more shares of their spot Bitcoin ETF.
🤑 Key Highlights:
BlackRock’s Strategic Income Opportunities Fund (BSIIX) bought $3.56 million worth of iShares Bitcoin Trust (IBIT) shares.
The Global Allocation Fund (MAWIX) added $485,000 worth of IBIT shares.
BSIIX and MAWIX hold total assets of $37.4 billion and $776.4 million, respectively.
IBIT now holds Bitcoin valued at $19.61 billion, just behind Grayscale’s Bitcoin Trust (GBTC) which has $19.76 billion.
📈 Spot Bitcoin ETFs collectively hold over 1 million Bitcoin, worth more than $68 billion. This represents about 5.10% of the total circulating supply of Bitcoin.
💡 Who Else is Buying? More than 600 U.S. investment firms have purchased spot Bitcoin ETFs, including big names like Morgan Stanley, JPMorgan, Wells Fargo, and UBS. Hedge funds like Millennium Management, the largest accumulator with $1.9 billion in investments, are also major players.
Stay tuned for more crypto insights! 👍
Disclaimer: This post is for informational purposes only and does not constitute investment advice. Generous contributions support the mission of providing the best investment advice. Your tips enhance efforts to serve better.
