Blackrock Investors Plan to Invest More than $2 Billion in Bitcoin ETFs

Blackrock Investors Plan to Invest More than $2 Billion in Bitcoin ETFs

user avatar

by Max Nevskyi

3 years ago

Matthew Sigel, the head of the digital asset analysis department at the investment firm VanEck, has announced plans by investors to invest more than $2 billion in a Bitcoin ETF developed by Blackrock.

I learned from a fairly reliable source that Blackrock has attracted an additional $2 billion from Bitcoin holders who are increasing their positions in the past week. I can't vouch for its accuracy, but you know, everyone is doing this now. They're calling and trying to find people willing to write checks to buy these [Bitcoin ETF] products.said Sigel.

Matthew noted that according to VanEck's analytical assessments, in the first quarter since the launch of spot Bitcoin-ETF trading, $2.5 billion will be invested, and this volume will reach $40 billion in two years. However, he also acknowledged that considering Blackrock's clients' significant interest in derivatives, these forecasts significantly underestimate the fund's potential.

Bloomberg received confirmation from its sources, indicating that Blackrock plans to allocate significant funds to the Bitcoin ETF on the first day after the listing of the derivative fund to demonstrate high trading volume and thus attract substantial interest from investors.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Lido Introduces New Community Staking Module for Ethereum Validators

Lido has launched a new Community Staking Module on October 23, allowing Ethereum validators to hold larger effective balances.

user avatarJacob Williams

Understanding Saffron's Vault System

Saffron's current product structure separates upfront payments from uncertain trading fees generated by Uniswap liquidity positions.

user avatarSon Min-ho

Bank Policy Institute Critiques Stablecoin Regulation

The Bank Policy Institute has renewed its criticism of the Office of the Comptroller of the Currency's final stablecoin rule, particularly regarding the treatment of third-party arrangements.

user avatarZainab Kamara

Kraken Introduces SFI Trading on October 23

On October 23, Kraken announced the addition of SFI trading, providing fresh access to a token associated with the Saffron protocol, which has undergone significant changes since its early DeFi days.

user avatarAyman Ben Youssef

Kraken Exchange Announces Withdrawal Phase for 13 Assets

Kraken has officially moved into the withdrawal phase for 13 assets, with trading and deposits set to stop on October 23, 2023. Customers are urged to withdraw their remaining tokens before the exchange begins liquidating balances.

user avatarTando Nkube

Cardano's Leios Scaling Plan Unveiled

Cardano has unveiled a detailed roadmap for its Leios scaling plan, targeting significant increases in transaction capacity with a staged approach for adjustments based on real-world performance.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.