- BlackRock has obtained more Bitcoin and ETH, raising its total crypto holdings.
- BlackRock’s capital led the strong influx into the traded stocks for Ethereum and Bitcoin.
- The SEC delayed decisions on Ethereum ETFs, extending deadlines to November 10 and 11.
BlackRock, the leading asset manager globally, has expanded its assortment by purchasing 182 Bitcoin and 2.42K Ethereum . This action boosts its total allocation to 357K BTC and 350K ETH. With a combined value now greater than $23 billion, BlackRock continues to upgrade its position in the emerging cryptocurrency economy.
Strong withdrawals into Bitcoin and Ethereum ETFs
On September 24, BTC exchange-traded funds saw major additions totaling $136 million. BlackRock’s IBIT ETF led the way by bringing in $98.9 M. Bitwise’s BITB ETF followed with $17.4 million, while Fidelity’s FBTC ETF contributed $16.8 million. Grayscale’s BTC ETF added a smaller inflow of $2.9 million.
Additionally, Ethereum-focused ETFs saw strong demand. Ethereum ETFs gained $62.5 million in total inflows, and BlackRock’s ETHA ETF led by securing $59.3 million. VanEck’s ETHV ETF and Invesco’s QETH ETF also saw smaller contributions of $1.9 million and $1.3 million.
SEC Delays Decision on Ethereum ETFs
Though BlackRock is finding success in the crypto market, regulatory challenges still remain. On September 24, the U.S. Securities and Exchange Commission (SEC) delayed its decision on allowing options trading for BlackRock and Bitwise’s Ethereum ETFs. The SEC extended the review period with new deadlines set for November 10 and 11. This delay follows the approval of options trading for BlackRock’s IBIT Bitcoin ETF on September 20.
Read CRYPTONEWSLAND on
google news
The government is taking additional time to review these proposals as it continues to assess the impact of Ethereum ETFs on the stock exchange. This delay underscores the cautious approach officials are taking as they consider expanding the digital token’s space within common financial protocols.
BlackRock’s Strategy in Crypto
The company’s involvement in crypto began cautiously but has steadily grown. In 2018, the business formed a working group to explore blockchain and electronic assets. By 2020, it filed documents with the SEC to include Bitcoin futures in two of its funds, moving from research to active investment in virtual products.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
