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Bitcoin experienced a slight drop recently, breaking the $69,000 range and surpassing some brokers’ all-time highs.
During this downturn, the market’s second-largest BlackRock Bitcoin ETF has increased its holdings by more than 12,000 bitcoins.
This move indicates that institutions are very interested in trading bitcoin through the recently launched ETF.
Mises Capital shared this news on X:
Breaking news: BlackRock ETF raised 12,623 bitcoins yesterday.
Setting a new record for global car owners’ single-day purchases.
Despite GBTC redeeming 5,324 bitcoins yesterday, the net inflow for the day was 10,609 bitcoins.
Mises Capital (@misescapital) March 6, 2024
It should be emphasized that BlackRock’s ETF is the fastest fund in history to reach $10 billion in assets under management, which has positioned bitcoin as one of the main assets in the financial market.
In addition, BlackRock has requested the SEC to add bitcoin ETF shares to its Strategic Income Opportunities Fund (BSIIX), which manages $36 billion in assets.
This move indicates that greater value can be achieved when bitcoin ETFs are added to other pensions, retirement funds and Compound ETFs.
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