BlackRock Validates Daily BTC Balances in IBIT, Analyst Sees No Bankruptcy Risks

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BlackRock Validates Daily BTC Balances in IBIT, Analyst Sees No Bankruptcy Risks BlackRock, the world’s largest asset management firm, is actively validating Bitcoin (BTC) balances for its IBIT ETF by operating its own blockchain node, according to Bloomberg’s senior ETF analyst Eric Balchunas.

Despite this, Balchunas highlighted that BlackRock’s robust operational history and trust in the ETF industry minimize risks for clients, with no bankruptcy concerns akin to events like the FTX collapse.

According to Balchunas, BlackRock’s rigorous BTC validation processes and its decades-long reputation for security significantly reduce the risk of any financial issues, including bankruptcy, for its IBIT ETF.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaUnited States

Topics: BlackRock Validates Daily BTC Balances in IBIT Latest News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 07:05:14 (5 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 509 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22691646

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Official Website: bitcoinworld.co.in

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