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Blackrock’s Head of Crypto Sees Bitcoin as ‘Risk Off’ Asset Despite Stock Correlation

Blackrock’s Head of Crypto Sees Bitcoin as ‘Risk Off’ Asset Despite Stock CorrelationBlackrock’s digital asset chief sees bitcoin as a “risk-off” asset even though it has shown a pattern aligned with U.S. stocks. He drew parallels between bitcoin and gold, pointing to its decentralized structure and limited supply as crucial factors setting it apart. Blackrock’s increasing engagement with bitcoin is also reflected in the strong performance of […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Goldman Sachs Discloses $418 Million Bitcoin ETF Holdings

Goldman Sachs Discloses 8 Million Bitcoin ETF HoldingsGlobal investment bank Goldman Sachs has reported holdings of $418 million in spot bitcoin exchange-traded funds (ETFs) in the second quarter. Its biggest position is a $238 million stake in Blackrock’s Ishares Bitcoin Trust (IBIT). In contrast, Morgan Stanley reduced its bitcoin ETF holdings. Meanwhile, hedge funds are taking a more aggressive stance in the […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Former SEC Official Urges 15,000 Morgan Stanley Advisors to ‘Say No’ to Bitcoin ETFs, Citing ‘Mammoth Risk’

Former SEC Official Urges 15,000 Morgan Stanley Advisors to ‘Say No’ to Bitcoin ETFs, Citing ‘Mammoth Risk’The U.S. Securities and Exchange Commission’s former head of internet enforcement, John Reed Stark, has raised concerns about Morgan Stanley’s 15,000 financial advisors promoting cryptocurrency investments, citing risks to retail investors and potential career consequences for advisors. He warned that the advisors could risk their Certified Financial Planner credentials if they fail to adhere to […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Morgan Stanley’s 15,000 Financial Advisors Can Start Pitching Bitcoin ETFs to Clients Next Week: Report

Morgan Stanley’s 15,000 Financial Advisors Can Start Pitching Bitcoin ETFs to Clients Next Week: ReportMorgan Stanley is set to offer spot bitcoin exchange-traded funds (ETFs) to select clients through its 15,000 financial advisors starting next week. This marks a significant first for a major Wall Street bank. Advisors can pitch Blackrock’s Ishares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund to eligible clients, reflecting the growing acceptance of bitcoin […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Blackrock Warns of Rising Crypto Investment Scams

Blackrock Warns of Rising Crypto Investment ScamsBlackrock, the world’s largest asset manager with $10.5 trillion in assets under management, has warned about cryptocurrency scams. The firm urged caution when dealing with individuals, websites, or social media platforms using its brand to offer training or investments. Blackrock noted a spike in scams directing users to crypto investment-related websites or platforms like Whatsapp […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Direct client demand driving growth in BlackRock’s Bitcoin ETF so far

BlackRock head of digital assets Robert Mitchnick talked ETFs with Bloomberg’s James Seyffart at Bitcoin 2024.

Client demand was the driving force behind Bitcoin exchange-traded fund (ETF) creation, and the funds are just beginning to pick up momentum, BlackRock head of digital assets Robert Mitchnick said at the Bitcoin2024 event. He was interviewed on stage by Bloomberg journalist James Seyffart.

BlackRock CEO Larry Fink was a vocal skeptic of cryptocurrency when Mitchnick was hired in 2018. Fink was subsequently “orange-pilled,” pivoting to call Bitcoin “digital gold” in a recent interview.

Mitchnick credited Fink himself for the change of heart. “Larry deserves a lot of credit for the time that he spent studying the space,” Mitchnick said. He added:

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Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Bears rekt: Bitcoin ETFs see runner-up record day with $887M inflows

Fidelity’s Bitcoin fund led the pack with $378.7 million in net inflows on the U.S. spot Bitcoin ETFs second-highest joint net inflow day, according to preliminary data.

United States-based spot Bitcoin exchange-traded funds (ETFs) saw their second-best-ever joint net inflow day of $886.6 million, according to preliminary data.

The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the largest inflow at $378.7 million, while BlackRock’s iShares Bitcoin Trust (IBIT) was second with $274.4 million, according to early data from Farside Investors.

The ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer with $138.7 million in net inflows, Farside data shows.

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Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

BlackRock adds own Bitcoin ETF to income and bond funds

One of the funds was BlackRock’s Strategic Income Opportunities Fund worth over $37.4 billion.

BlackRock’s income and bond-focused funds have bought shares of the asset manager’s own spot Bitcoin (BTC) exchange-traded fund (ETF) in the first quarter, regulatory filings show.

BlackRock’s Strategic Income Opportunities Fund (BSIIX) snapped up $3.56 million worth of the iShares Bitcoin Trust (IBIT) while its Strategic Global Bond Fund (MAWIX) made a $485,000 purchase, according to May 28 Securities and Exchange Commission filings.

The IBIT shares are a fraction of BSIIX and MAWIX’s investment portfolios, respectively worth $37.4 billion and 776.4 million.

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Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Skybridge’s Scaramucci: Institutional Adoption of Bitcoin Is Happening Now

Skybridge’s Scaramucci: Institutional Adoption of Bitcoin Is Happening NowAnthony Scaramucci, founder of Skybridge Capital, believes that the institutional adoption of bitcoin is happening now. Highlighting recent developments like the State of Wisconsin Investment Board investing in Blackrock’s spot bitcoin exchange-traded fund (ETF), he predicts that other pension funds will make similar announcements. “Bitcoin now has the regulatory approval and I think that was […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei

Blackrock Bitcoin ETF Sees 70 Straight Days of Inflows — Holdings Near 274K BTC

Blackrock Bitcoin ETF Sees 70 Straight Days of Inflows — Holdings Near 274K BTCThe world’s largest asset manager with $10.5 trillion in assets under management, Blackrock, has seen 70 consecutive days of inflows into its spot bitcoin exchange-traded fund (ETF). This achievement places Ishares Bitcoin Trust (IBIT), which has amassed approximately 274K bitcoins since its launch, among the top 10 ETFs with the longest daily inflow streaks. IBIT: […]

Trader Calls One Ethereum-Based Altcoin the ‘Opportunity of a Lifetime,’ Updates Outlook on Bitcoin and Sei