BlackRock's spot Bitcoin ETF has just reached a record holding of over 700,000 Bitcoins, equivalent to approximately $75.5 billion.
This is an important milestone, reflecting the strong attraction of the fund to investors and the great potential of the cryptocurrency market. According to expert Thomas Fahrer, the number of Bitcoins held by BlackRock's IBIT fund has surpassed the threshold of 700,000 coins.
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BlackRock's spot Bitcoin ETF has recorded over 700,000 BTC in holdings.
The equivalent asset value is approximately $75.5 billion, significantly increased due to the influx of capital.
Thomas Fahrer confirms the figures and the important position of BlackRock in the cryptocurrency market.
How many Bitcoins does BlackRock's spot Bitcoin ETF hold?
According to Thomas Fahrer, founder of Apollo, BlackRock's spot Bitcoin Exchange Traded Fund (ETF) currently manages 700,307 Bitcoins, a figure that was recently updated after a large inflow of funds on July 8. This huge position reinforces BlackRock's leading position in the global cryptocurrency asset field.
BlackRock's IBIT fund has broken all previous records for Bitcoin holdings thanks to a new inflow of $164.6 million in just one day.
Thomas Fahrer, Founder of Apollo, July 2024
What is the current asset value of BlackRock's Bitcoin ETF in the market?
The value of Bitcoin held by this fund is estimated at approximately $75.5 billion, reflecting one of the largest cryptocurrency asset scales among current ETFs. This event indicates an increase in confidence from institutional investors in Bitcoin as well as the sustainable profit potential of this investment channel.
Why is the number of Bitcoins held by the BlackRock ETF fund important?
The number of over 700,000 Bitcoins makes this fund one of the largest Bitcoin holders in the world. This not only has a strong influence on the market but also helps increase transparency and reliability for the Bitcoin ETF investment channel through BlackRock's professional management mechanism.
The development of Bitcoin ETFs using modern technology and professional management will support the cryptocurrency market to become more dynamic and sustainable in the near future.
Director of a large financial institution, June 2024
Frequently Asked Questions
What is a spot Bitcoin ETF? A spot Bitcoin ETF is an investment fund that directly owns Bitcoin, allowing investors to participate in the market without needing to buy coins directly. How does BlackRock manage assets? BlackRock is the largest asset management company in the world, with a diverse range of financial products, reputation, and rich experience. How does the number of Bitcoins held by the ETF affect the market? The large amount of Bitcoin held by the fund creates stability and increases investor confidence, while also affecting supply and demand in the market. What does the $164.6 million inflow into the fund signify? The large inflow indicates that institutional investors continue to strengthen their confidence in Bitcoin and BlackRock's ETF. How is the data verified? The figures are confirmed by the founder of Apollo, a reputable expert in the field of cryptocurrency investment.
Source: https://tintucbitcoin.com/blackrock-ibit-nam-giu-700-000-bitcoin/
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