Hedge Fund Giant, BlackRock, Secures Over 10,000 Bitcoins (BTC) Amidst Bleeding Competitors
Dig into Google News: Read U.TODAY's Latest on Crypto It's a turbulent day in the crypto world as heavyweights like Fidelity, ARK, and Grayscale face red outflows. Meanwhile, BlackRock steps into the spotlight with a significant move - a whopping $970 million investment in Bitcoin.
Bye-bye, Bitcoin, as Fidelity Wise Origin, ARK 21Shares, and Grayscale's flagship Bitcoin ETF report net outflows. Fidelity shed 917 BTC, ARK lost 2,389 BTC, and Grayscale pulled out 103 BTC, amounting to an overall outflow of over 3,400 BTC.
BlackRock Packs a Punch: 10,249 BTC in a Day? But hold up, because BlackRock's iShares Bitcoin Trust (IBIT) scooped up a whopping 10,249 BTC in a single day - that's roughly $970 million at the current price. With this move, IBITManages close to 599,000 BTC, making it the biggest player among US spot Bitcoin ETFs.
And it doesn't stop there. BlackRock's direct wallet data tells a captivating story - the firm now holds an impressive 582,614 BTC directly, with a staggering market value of over $55 billion. That's in addition to their ETF assets, making BlackRock's overall Bitcoin exposure both substantial and domineering.
Let's face it - this isn't BlackRock taking a gamble. It's BlackRock fulfilling orders. Investors are buying IBIT, and BlackRock, by design, is buying the Bitcoin to match.
Institutional Clairvoyance, perhaps? In a world of speculation, BlackRock's accumulation during a red day is rather unusual. Maybe BlackRock sees what others don't - or maybe they're betting that the crowd will go the wrong way again.
It's not just Bitcoin - Ethereum ETFs show a similar divide. The Grayscale Ethereum Trust faces red, while iShares' ETHA ETF welcomes over 37,000 ETH in a day.
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- The outflows from Fidelity Wise Origin, ARK 21Shares, and Grayscale's Bitcoin ETF reached over 3,400 BTC, while BlackRock's iShares Bitcoin Trust (IBIT) absorbed a significant 10,249 BTC.
- At the current price, BlackRock's investment in IBIT amounts to approximately $970 million, making them the biggest player among US spot Bitcoin ETFs.
- BlackRock's direct wallet data shows they now hold an impressive 582,614 BTC directly, with a market value above $55 billion.
- Institutional clairvoyance may be at play, as BlackRock's accumulation of Bitcoin on a red day is quite unusual.
- Ethereum ETFs also display a similar divide; the Grayscale Ethereum Trust faces red, while iShares' ETHA ETF welcomes over 37,000 ETH in a day.
- In finance and investing, technology plays a crucial role, and staying connected with the latest news on entities like BlackRock and Bitcoin is essential for making informed decisions.
