BlackRock Discloses New Position in IBIT
Analysis
Price Impact
HighBlackrock, the world's largest asset manager, has purchased 2,535,357 shares of ibit, signaling strong confidence in the bitcoin etf and potentially attracting more institutional investors.
Trustworthiness
HighBlackrock is a highly reputable and influential player in the financial market. their investment in ibit carries significant weight and can influence market sentiment.
Price Direction
BullishIncreased institutional interest in bitcoin through ibit is likely to drive demand and push prices higher.
Time Effect
LongBlackrock's investment is a long-term strategic decision, indicating sustained interest in bitcoin and potential for continued growth in the future.
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News Thu, 14/11/2024 - 5:20 Cover image via stock.adobe.com Read U.TODAY on Google News In a recent SEC filing , BlackRock, the world's largest asset manager, disclosed that it had purchased 2,535,357 shares of iShares Bitcoin Trust ETF (IBIT) valued at $91.6 million. SoSoValue data shows that BlackRock's IBIT attracted $230 million worth of inflows on Wednesday. According to analyst Eric Balchunas, the red-hot ETF product logged $5 billion in daily trading volume yesterday, setting a new record. Notably, only three ETFs saw more trading activity on Wednesday. HOT Stories BlackRock Discloses New Position in IBIT Shiba Inu (SHIB) Ready for More Growth, Will Fantastic Cardano (ADA) Growth Continue? XRP Loses 13% in One Go: What's Next? Bitcoin Surpasses Saudi Aramco After Hitting New Record High Novogratz Predicts Bitcoin Might Reach $500K If This Happens Related Tue, 11/12/2024 - 16:41 Bitcoin ETFs Surpass $90 Billion in Total Assets Alex Dovbnya Advertisement Following the most recent update, BlackRock's IBIT is now inching closer to $30 billion worth of cumulative inflows. Its total net assets currently stand at $42.56 billion. BlackRock first disclosed its intention to add IBIT exposure to other funds back in March. The record-shattering product was launched back in January. #Bitcoin News #BlackRock