BLACKROCK HAS BEEN TALKING TO DIFFERENT SORTS OF INSTITUTIONS ON BITCOIN ETF INVESTMENTS
Speaking to a news site, BlackRock head of digital assets Robert Mitchnick said they anticipate a new wave of inflows from “a different type of investor.” This assertion comes after a period of significant pause in terms of capital inflows into the BTC exchange-traded funds (ETFs) market.
Specifically, Mitchnick says the new players could include financial institutions like sovereign wealth funds, pension funds and endowments. If these classes of investors begin to trade spot ETFs, the BlackRock executive said it would signify “a re-initiation of the discussion around Bitcoin.”
Further, Mitchnick revealed that BlackRock, the world’s largest asset management firm, has been talking to different sorts of institutions, including “pensions, endowments, sovereign wealth funds, insurers, other asset managers, and family offices,” among others, about BTC for several years.
Elsewhere, a filing (13F report) from the US Securities & Exchange Commission (SEC) indicates that the second largest European bank (by assets), BNP Paribas, purchased BlackRock BTC ETF shares (IBIT).
The portion of BNP Paribas’ investment into IBIT was very small, 1,030 IBIT shares in Q1 of 2024 at $40.47 a share, for a total of $41,684.10. This is less than the value of a single BTC at current prices. Nevertheless, it is still significant because it points to one of the first confirmed instances where a major financial institution has purchased shares of a spot Bitcoin ETF.
- BlackRock's head of digital assets says new wave of investors is
likely to pour into the BTC ETF space.
- After 71 days of capital inflows into Bitcoin ETFs, markets
witnessed an unusual lull that denied tailwinds for BTC price.
- Bitcoin price holds above $59,000 after an intraday low of
$56,552 on Wednesday.
