CandleFocus BlackRock Bitcoin Holdings Swell to Nearly $24 Billion After Latest Buy
2024-09-27
Author: Content Editor
Wall Street titan BlackRock has seen its Bitcoin holdings increase to nearly $23.7 billion after less than a year of trading for its Bitcoin ETF. The asset manager recently acquired an additional $35 million worth of Bitcoin and $6.4 million of Ethereum, bringing its Ethereum reserves to 350,000 ETH. BlackRock's BTC holdings are primarily managed through its iShares Bitcoin Trust, and it now represents approximately 1.70% of total Bitcoin. However, its Ethereum holdings are considerably less than Grayscale's, with over 2.104 million ETH valued at roughly $5.45 billion. BlackRock's increased crypto investments indicate growing institutional interest. There have been rumors about the custody of the assets, with allegations that Coinbase is issuing "paper Bitcoin" or IOUs instead of acquiring the actual Bitcoin, but Coinbase CEO Brian Armstrong clarified that all transactions involving the ETF are settled on the blockchain.
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