BlackRock’s IBIT has also seen a record three consecutive trading days of outflows.
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The recommendation applies to investors who wish to hold Bitcoin, the asset manager said.
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Since the second quarter, Goldman Sachs has added $300 million to its portfolio in Bitcoin ETF holdings, increasing exposure by 71%.
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Blackrock’s IBIT ETF now holds upwards of $33 billion in assets, more than the asset manager’s gold fund.
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Some analysts expect Bitcoin’s price to surge following Donald Trump’s Nov. 5 election win.
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Blackrock CEO Larry Fink has emphasized bitcoin’s growing legitimacy as an investment, calling it an alternative to commodities like gold. “We believe bitcoin is an asset class in itself,” said the CEO of the world’s largest asset manager. Fink downplayed regulatory changes, arguing broader acceptance and liquidity will drive market expansion. With the firm’s bitcoin […]
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JPMorgan analysts are showing optimism as bitcoin exhibits strong upward trends moving into the fourth quarter. They highlighted October’s historically positive returns for the cryptocurrency and suggested this trend could persist. “We continue to see the crypto ecosystem being incrementally more sensitive to macro factors,” the analysts noted. JPMorgan Sees Bright Prospects for Bitcoin in […]
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The U.S. Securities and Exchange Commission (SEC) has granted approval for the listing and trading of options on the Ishares Bitcoin Trust (IBIT), a product by Blackrock. This decision introduces a new financial instrument aimed at providing investors with the ability to hedge and manage risk associated with bitcoin exposure. These options will be physically […]
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The CIO rebutted a more bearish take by investment researcher Jim Bianco, who noted that 85% of Bitcoin ETF uptake “is NOT from tradfi institutions.”
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Vanguard’s new CEO, Salim Ramji, reaffirms the company’s cautious stance on crypto exchange-traded funds (ETFs), emphasizing innovation and client-focused strategies while rejecting the launch of a crypto ETF. Ramji, a former Blackrock executive, highlights Vanguard’s strengths in active fixed income management and commitment to low-cost investments, staying consistent with the firm’s core principles. Vanguard CEO […]
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