BlackRock Plans Massive Bitcoin Investment Once SEC Approves ETFs

Bitcoin believers have long awaited the holy grail of crypto endorsements – the launch of the first U.S. bitcoin exchange-traded fund (ETF). That momentous occasion may finally occur next week, with asset management juggernaut BlackRock reportedly prepared to deploy billions in seed capital into a new spot bitcoin ETF.

Citing a “well placed source,” Block editor-in-chief Tom Copeland tweeted this week that BlackRock has amassed commitments totaling $2 billion from existing bitcoin holders ready to rotate their holdings into a SEC-approved bitcoin ETF in its first week of trading.

Bloomberg ETF analyst Eric Balchunas echoed the claim in a follow-up tweet, speculating that such an injection would “blow away all first day/week volume/aum records for an ETF.”

The SEC has until January 10th to approve or reject a spot bitcoin ETF, but insiders widely expect the regulatory agency to finally relent amidst unrelenting pressure.

As the world’s largest asset manager overseeing $10 trillion in assets, BlackRock packs unrivaled purchasing power. Earmarking $2 billion for bitcoin investment would account for over 0.1% of the cryptocurrency’s total $1.66 trillion market valuation.

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The resulting frenzy of inflows from BlackRock and other hungry institutions into the long-awaited vehicle could squeeze bitcoin’s limited supply and send its price rocketing to new highs. After years of contentious debate and false dawns, the bitcoin ETF may soon emerge as crypto’s institutions gateway – with BlackRock boldly leading the charge.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!