BlackRock, the largest asset manager in the world, continues to make moves that mirror rising institutional interest in Bitcoin.
Increase in Stake in Strategy₿
According to a filing with the US SEC dated February 6, BlackRock has increased its stake in Strategy₿ to 5%, equivalent to over 11 million shares. This marks a 0.91% rise from the previous 4.09% as of September 30, 2024.
BlackRock's Growing Interest in Bitcoin
BlackRock plans to launch a Bitcoin ETP in Europe, which would be the company's first BTC product outside North America. The decision follows their US BTC ETF, IBIT success, which had over $56.5 billion in assets as of February 6.
Bitcoin Rises Above $98,000
At the moment of writing, Bitcoin is trading above $98,300, with a market cap of $1.94 trillion. This surge comes after US unemployment data came in lower than expected.
BlackRock's interest in Bitcoin continues to grow amidst rising prices and institutional interest, highlighted by the increased stake in Strategy₿ and plans to launch a Bitcoin ETP in Europe.
