Why BlackRock Funds Are Investing Millions Into Its Spot Bitcoin ETF (IBIT)?

Quick Summary:

Two BlackRock funds have been aggressively buying shares of the iShares Bitcoin Trust ETF (IBIT) pouring a total of $78 million during the last quarter ending September 30.

The world’s largest asset manager is itself contributing to the growth of Bitcoin ETF IBIT which has clocked more than $31.6 billion in net inflows.

This brings its total IBIT holdings to 2,140,095 shares, valued at approximately $118 million.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Bitcoin News IBIT Blackrock 24/7 Cryptocurrency News Blackrock Bitcoin ETF IBIT share price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 10:24:43 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 458 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 13 words per sentence (average)

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

Copyright Owner: © CoinGape

News ID: 23942233

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