BlackRock Buys more $2.4 Billion in Bitcoin This Week,The World’s largest asset manager, BlackRock has reportedly bought around $2.4 billion worth of Bitcoins this week in preparation for the launch of its Bitcoin ETF offering. This massive purchase and another $300 million worth of Bitcoins gathered over just two days are some signs that BlackRock believes in the digital asset now. It has been changing the tide as institutional interest in cryptocurrencies is increasingly growing.
On Wednesday, BlackRock achieved a significant milestone in the Bitcoin ETF market, recording the largest inflows since the inception of these investment funds in January.
According to Bloomberg, approximately $872 million flowed into BlackRock’s iShares Bitcoin Trust on Wednesday, marking a daily record for the fund, highlighting the strong demand for Bitcoin ETFs,
BlackRock’s total holdings in Bitcoin now stand at 429,185 BTC, valued at approximately $31.04 billion. This accounts for about 2.04% of Bitcoin’s total supply.
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