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

by Max Nevskyi

2 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.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

OpenAI and Paradigm Introduce EVMbench for Ethereum Smart Contract Security

OpenAI and Paradigm have introduced EVMbench, a tool aimed at improving the security of Ethereum smart contracts by evaluating AI agents' capabilities.

Zainab Kamara38 minutes ago

Riot Platforms Urged to Accelerate AI Transition by Starboard Value

Starboard Value urges Riot Platforms to accelerate its AI transition to enhance value through AI data centers.

Son Min-hoan hour ago

Base Network Announces Transition to New Unified Tech Stack

Base, the Ethereum layer2 scaling network incubated by Coinbase, announces a shift to a new unified technology stack to enhance upgrade speed and reduce overhead.

Ayman Ben Youssef2 hours ago

Bitcoin Network Difficulty Set for Significant Increase

The Bitcoin network is expected to see a major increase in mining Difficulty due to faster block production rates.

Tando Nkube4 hours ago

Goldman Sachs CEO Criticizes Crypto Leaders Over Market Structure Bill

Goldman Sachs CEO David Solomon criticizes crypto leaders for disregarding the market structure bill, emphasizing the need for a rules-based framework in the industry.