Blackrock Clients to Invest Over $2 Billion in Bitcoin ETF
Date: 2024-01-07 Author: Dima Zakharov Categories: BLOCKCHAIN
The world of cryptocurrency is abuzz with excitement as it has been revealed that Blackrock, one of the leading investment firms, is set to witness substantial investments in a Bitcoin ETF. Matthew Sigel, the Head of Digital Asset Research at VanEck, shared this exciting news, stating that over $2 billion is expected to be poured into the Bitcoin ETF developed by Blackrock.
The information comes from a reliable source indicating that Blackrock has attracted an additional $2 billion from Bitcoin holders who are looking to expand their cryptocurrency portfolios. While the accuracy of this information cannot be guaranteed, it reflects the current trend of growing interest in digital assets.
Matthew Sigel mentioned that according to analysts at VanEck, they estimate that $2.5 billion will be invested in spot Bitcoin ETFs within the first quarter after their launch, and this figure could reach $40 billion within two years. However, considering the amount that Blackrock's clients are willing to invest in the derivative, Sigel acknowledges that this estimate may be significantly underestimated.
Eric Balchunas, a Bloomberg contributor, has confirmed Matthew Sigel's statements by consulting his own sources. He discovered that Blackrock plans to inject a substantial amount of capital into the Bitcoin ETF on the first day of its listing to demonstrate high trading volume and attract investor interest. This development signifies a significant milestone in the acceptance and adoption of cryptocurrencies in the mainstream financial world.
