Blackstone, known as the world's largest alternative asset manager, made its initial foray into the crypto space by purchasing shares in BlackRock's Bitcoin exchange-traded fund. The investment, disclosed in a filing with the US Securities and Exchange Commission, amounted to approximately $1.08 million, a small fraction of Blackstone's massive $1.2 trillion portfolio. The company acquired 23,094 shares of BlackRock's Bitcoin Trust ETF and also invested in crypto ATM operator Bitcoin Depot Inc. and the ProShares Bitcoin ETF. Despite its traditional stance on cryptocurrencies, Blackstone has diversified its portfolio to include these digital assets. In contrast, the state of Wisconsin Investment Board liquidated its Bitcoin holdings during the first quarter. BlackRock's Bitcoin fund has been experiencing consistent inflows, outperforming other similar funds in terms of net inflows. Overall, Blackstone continues to explore various investment opportunities across different asset classes. Read more AI-generated news on: https://app.chaingpt.org/news

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