According to on-chain data, BlackRock's active move has caused its BTC holdings to surge to nearly 350,000, making it the world's third largest BTC holder, second only to Satoshi Nakamoto and Binance. This change marks a major turning point for BlackRock in the BTC field.

The CEO of BlackRock, who was once skeptical of BTC, now sees it as an "international asset" with the potential to change the financial industry. This change in position has driven BlackRock's deep involvement in the cryptocurrency asset market. BlackRock's flagship product IBIT, launched earlier this year, quickly won the favor of institutional investors seeking BTC security risk exposure, further enhancing its position in the BTC market.

Currently, Satoshi Nakamoto's BTC reserves are estimated to be 1.1 million, and Binance's holdings are about 550,000. Bloomberg analysts predict that BlackRock may surpass Satoshi Nakamoto by the end of next year and become the world's largest BTC holder, and is expected to maintain this position for a long time.$BTC

Surprisingly, a few months ago, Grayscale was still leading the ETF market, and the amount of BTC it held once exceeded that of BlackRock. As the market landscape changes, BlackRock's rise has become a striking financial vane.

However, the market landscape has changed, and Grayscale is facing pressure from customers to redeem as investors withdraw. The main reason is that Grayscale's handling fee is as high as 2.5%, while the industry average is only 0.25%. This gap has caused many investors to turn to other options. $ETH

At the same time, BlackRock's business in the field of cryptocurrency assets continues to expand, paving the way for more traditional financial institutions to enter this market. The latest documents show that large institutions such as Capula Management, Goldman Sachs, and DRW Capital are actively purchasing BlackRock's iShares IBIT shares, which further highlights BlackRock's dominance in the market.

While ETFs have played a key role in establishing crypto assets as a legitimate asset class, there is still controversy within the cryptocurrency community about this change. Some critics believe that the involvement of large financial institutions has gradually violated the decentralized principles of BTC and re-centralized power in the traditional financial system, which runs counter to the centralized entities that BTC is trying to bypass. $BNB