It’s been just reported that the financial giants BlackRock and Fidelity now own a combined 372,227 BTC for their spot Bitcoin ETFs. Here are the latest reports about the companies below.
BlackRock and Fidelity get ready for their spot BTC ETFs
Here is the tweet that’s circulating on X:
JUST IN: 🇺🇸 BlackRock and Fidelity now own a combined 372,227 #BTC worth $23.5 billion for their spot #Bitcoin ETFs. pic.twitter.com/9IayWsok5O
— Bitcoin Magazine (@BitcoinMagazine) March 19, 2024
Someone commented: “What implications does BlackRock and Fidelity’s combined ownership of 372,227 BTC, valued at $23.5 billion for their spot Bitcoin ETFs, have for the cryptocurrency market as a whole? Additionally, how might this impact the competitive landscape of Bitcoin ETFs and investor sentiment towards these investment vehicles?”
Another commenter said: “Fascinating to see these institutional giants diving deeper into the world of Bitcoin. The increasing adoption of cryptocurrency by such major players is a testament to its growing significance in the financial landscape. Exciting times ahead!,” while someone else posted this message: “Intriguing! The growing involvement of institutions like BlackRock and Fidelity in Bitcoin signifies a shifting landscape towards digital assets. Its fascinating how traditional finance is embracing the future of currency.”
Recently, it has been revealed that the global Bitcoin funds are draining assets amidst the US ETF boom. Here are the reports on BTC funds and their trajectory.
US BTC ETF boom triggers global BTC funds moves
It has recently been revealed that the increasing demand for spot Bitcoin exchange-traded funds (ETFs) in the United States is having a significant impact on the established investment products that play a critical role in introducing cryptocurrencies to the world of investment funds.
Data coming from CoinShares Institutional Ltd. shows the fact that investors are withdrawing a collective $738 million from BTC-related vehicles on exchanges in Germany, Sweden, and Canada.
Check out our previous article in order to learn more details about the matter.