BlackRock’s spotlight Bitcoin Its ETF, iShares Bitcoin Trust, started its first trading day quite well. IBIT attracted attention by purchasing 11,439 bitcoins with a market value of nearly $500 million in just two days of trading on Nasdaq. succeeded.
UPDATE: After two days of activity after #SEC‘s #BitcoinETF approval, the Nine Newborns have attracted over $1.4 billion in new investments, surpassing the $579 million in outflows experienced by $GBTC. These results in a net total gain of approximately $819 million. Notably,… pic.twitter.com/iXGbtyHs6r
NEWS CONTINUES BELOW— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) January 15, 2024
This success comes on the heels of the U.S. Securities and Exchange Commission (SEC) approving 11 spot BTC ETFs, including BlackRock’s Ishares Bitcoin Trust. This approval marks a major shift in the field of cryptocurrency investments, especially on Wall Street. As of January 12, BlackRock’s ETF holdings encompassed 11,439.2198 bitcoins, accounting for 99.99% of the trust’s assets and demonstrating the firm’s significant investment in cryptocurrency. A total of nine approved ETFs have managed to attract over $1.4 billion in investments so far.
📈 #BitcoinETF name from $10,000,000,000 asset manager #BlackRock 🧐
NEWS CONTINUES BELOWthis #Bitcoin ad from BlackRock isn’t as hyped as those from #VanEck or #Bitwisebut it shows that #BTC has found its way to #wall Street, and adoption is about to skyrocket. 🚀🚀🚀 pic.twitter.com/gQp12P9UYE
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) January 12, 2024
As Koinfinans.com reported, the strategic moves of ETF fund managers also attracted attention. BlackRock initially allocated 50% of its ETF to cash but later returned to 100% Bitcoin holdings, taking the opportunity to buy at a low price. These moves demonstrate a new level of expertise and influence in the cryptocurrency trading arena. The market responded dynamically to these developments, with the Bitcoin price rising to $49,000 on the first day of trading, but later falling below $42,000. At the time of reporting, BTC is trading at approximately $42,885.