BlackRock, the asset management giant, has recently made headlines in the cryptocurrency space by owning over 1% of Bitcoin's total supply through its Spot Bitcoin ETF, a move that has sparked a wide range of reactions. While some sources claim that BlackRock directly owns this percentage of Bitcoin, others clarify that the firm holds IOUs to 1% of the supply on behalf of its clients, indicating that the actual owners are the IBIT holders. This development is part of a broader trend of increasing institutional interest in Bitcoin, with BlackRock's head of digital assets, Robert Mitchnick, noting during the Bitcoin Investor Day conference that Bitcoin is the primary focus for their clients, showing only a lukewarm demand for Ethereum by comparison. The firm decided to launch a Bitcoin ETF after observing consistent and enduring client interest in Bitcoin across various market conditions. This move by BlackRock underscores the growing importance of Bitcoin in the investment strategies of major financial institutions. Notably, IBIT holdings have reached 243K $BTC, highlighting the significant scale of BlackRock's investment in Bitcoin.
#Bitcoin Tops #Crypto Priority for #Blackrock Clients as IBIT $Holdings Reach 243K $BTC https://t.co/PJnw1kk3p8
Excluding GBTC, Fidelity’s FBTC and Blackrock’s IBIT Dominate #Bitcoin ETFs In Terms of Reserves Held https://t.co/rmMfT8LN3G
NEW: Blackrock sees only lukewarm demand for an Ethereum ETF. During the Bitcoin Investor Day conference in New York, Robert Mitchnick, BlackRock’s Head of Digital Assets, stated that “for our client base, Bitcoin is overwhelmingly the number one focus and a little bit Ethereum.” https://t.co/6d6qXHyVpl
NEW: BlackRock changed its mind on #Bitcoin and decided to launch an ETF because "clients were consistent and enduring in expressing their interest in Bitcoin through bull and bear markets." Probably something... 😉 https://t.co/wd7b80crIu
🔸BlackRock Head of Digital says "For our clients #Bitcoin is overwhelmingly the number one focus". https://t.co/R0zJrwn7Y7
Asset management giant @BlackRock says its seeing “a little bit” of interest in #Ethereum from its clients, compared to #bitcoin, head of digital assets Robert Mitchnick said during Bitcoin Investor Day conference. https://t.co/roOnq879mJ
🚨 BREAKING 🚨 BLACKROCK HAVE SAID "FOR OUR CLIENTS, BITCOIN IS OVERWHELMINGLY THE NUMBER ONE PRIORITY " BULLISH AF 🔥
🚨 Blackrock now owns over 1% of Bitcoins's total supply for their Spot #Bitcoin ETF
🚨 Blackrock now owns over 1% of #Bitcoin's total supply for their Spot #Bitcoin ETF
🚨 FOMO IN: @BlackRock now owns 1% of total #BTC supply 👀 https://t.co/9m0gEgIGyh
Blackrock doesn't own 1% of the Bitcoin supply. It has IOUs to 1% of the supply that it holds on behalf of its clients. Thus IBIT holders own IOUs of IOUs. 😬
Just a reminder: @BlackRock now owns over 1% of #Bitcoin's total supply. How does that make you feel? 🤔 https://t.co/bzxRouitkV