BTC Nears ATH as BlackRock Files with SEC for Its Strategic Income Opportunities Portfolio
Bitcoin broke through $68,000 and was less than $1,000 away from its all-time high.
Bitcoin broke through $68,000 and was less than $1,000 away from its all-time high.
IBIT saw over $500M in inflows between February 27 and 29.
Addressing common concerns such as the impact of historical events like the Mt. Gox collapse, Celsius controversies, and government sell-offs, Kang argues that these factors pale in comparison to the potential demand flows into Bitcoin.
Rieder remains optimistic about Bitcoin’s potential, citing the increasing acceptance of the cryptocurrency as an asset class.
The several spot Bitcoin ETFs excluding Grayscale Investments now hold about 192k Bitcoins compared to MicroStrategy’s 190k according to its latest quarterly report.
Nine new spot Bitcoin ETFs have accumulated over 100,000 BTC, valued at $4 billion AUM. BlackRock’s IBIT leads with 40,213 BTC.
The approval of 11 spot Bitcoin ETFs in the United States has given investors around the world more diversity to tap into the Bitcoin market, thus heightening underlying fee wars.
Among the newly launched nine Bitcoin ETFs, BlackRock and Fidelity’s ETFs have witnessed inflows northwards of $1.2 billion each.
The total assets under management of all Bitcoins ETFs combined is more than double of the Silver ETFs available in the market.
While Grayscale’s Bitcoin fund has historically been a dominant force in the crypto investment space, it has experienced substantial outflows totaling more than $579 million since it commenced trading on January 11.