Bitcoin (BTC) continues to gain institutional acceptance, and BlackRock, the world's largest asset manager, is leading the charge. According to Bloomberg senior ETF analyst Eric Balchunas, BlackRock operates its own blockchain node and verifies the bitcoin balance of its physical bitcoin ETF, iShares Bitcoin Trust (IBIT), on a daily basis. This move by BlackRock demonstrates its commitment to transparency and its belief in the potential of BTC. It also comes after the company recently filed an amendment to its ETF registration with the U.S. Securities and Exchange Commission (SEC) to allow for customer redemptions to be processed within 12 hours. Balchunas noted that BlackRock does not publicize the addresses of its bitcoin holdings because it could lead to spammed inbound transactions. He also emphasized that BlackRock has a long history of managing ETFs and has never experienced an FTX-type of blowup. BlackRock's confidence in Bitcoin is a sign that the cryptocurrency is becoming more mainstream. As more institutional investors enter the market, BTC is likely to become even more widely accepted.