The Giant of International Finance Blackrock now holds almost 3 % of the Bitcoin supply, continuing to buy it on behalf of its customers with billions of dollars.
Blackrock continues to accumulate billions of dollars of bitcoin
Who had believed it? In one year, The ETF Bitcoin Spot de Blackrock, the Ishares Bitcoin Trust, accumulated 2.7 % of the total BTC supply. This is information revealed by Arkham Intelligence, which highlighted the purchase of $ 1 billion in Bitcoin last week by Blackrock.
Indeed, the finance giant has experienced a new week entirely spent in green for its ETF backed by the king of cryptocurrencies. Last Monday and Wednesday were particularly beneficial days in Blackrock, The latter having ended respectively at 528 and $ 662 million in recorded net inflows.
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Note that Blackrock does not buy bitcoins on his behalf, but indeed for his customers, who hold shares of the Ibit. These BTCs are then deposited in Cold Wallets managed by Coinbase, which takes care of the Custody aspect for ETF.
Blackrock is more than ever a leader in its sector, with 3 times more assets under management than its 2 main grayscale and Fidelity competitors.
🗞️ On the same subject – The Nasdaq wants to modify the ETF Bitcoin of BlackRock to allow the exchange for real BTC
Larry Fink, the CEO of the financial company, also seems to believe in digital gold.
He recently declared that he would see him reaching 500, 600 or even $ 700,000 if the sovereign funds came to adopt it, which was the heart of the discussion he led during an intervention at the Davos Forum.
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Source: The Block
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