BLACKROCK MAKES THE CONVERSATION IN CRYPTO AGAIN!! IS IT CONTROLLING BITCOIN?
BlackRock, the global behemoth with trillions in assets, jumped on Bitcoin as another source of investment in form of ETFs earlier this Jan. Now, there rises a conversation of BTC control and hindrance for growth.
BlackRock has disclosed its $5.5 million exposure to its IBIT Bitcoin ETF while U.S. Spot Bitcoin ETF outflows surged to $11.3 million towards the end of the week.
Spot Bitcoin ETF issuers, BlackRock, an investment management firm, holds a relatively small $5.5 million stake in iShares Bitcoin Trust (IBIT).
BlackRock BTC holdings
Bitcoin is intentionally designed to be scarce. It’s highly regarded as a dependable store of value, which is why people are eager to have the opportunity to use it. As bitcoin is being used less for everyday transactions, it is gaining popularity as a means of exchange in alternative ways.
Is BlackRock stealing BTC’s growth potential?
At this point, BlackRock is slowly bouncing back with a significant influx of $14.2 million, which reflects investor confidence in the IBIT ETF. In general, the price of Bitcoin has not shown a positive response to the increasing ETF holdings.
