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Home»BLOCKCHAIN NEWS»BlackRock is exploring buying more Bitcoin ETFs.
BLOCKCHAIN NEWS

BlackRock is exploring buying more Bitcoin ETFs.

By Crypto FlexsMarch 5, 20242 Mins Read
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BlackRock is exploring buying more Bitcoin ETFs.
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Investment giant BlackRock has filed a new application with the U.S. Securities and Exchange Commission (SEC) to buy more Bitcoin (BTC) ETFs.

BlackRock wants to buy more Bitcoin ETFs for its Strategic Income Opportunities Fund, according to an updated filing on the regulator’s website.

“The Fund is an exchange-traded product (“ETP”) that seeks to reflect the general performance of the Bitcoin price by directly holding Bitcoin (“Bitcoin ETP”), including shares of Bitcoin ETPs sponsored by its affiliates. You can acquire stocks. Black stone.”

BlackRock filings

BlackRock’s fund, listed under the ticker IBIT, is currently considered the best performing fund in the market. This accounts for approximately half of the total spot BTC-ETF trading volume on the market. Data as of March 5 shows that BlackRock IBIT’s trading volume reached $2.4 billion and assets under management (AUM) exceeded $11 billion.

Confirmed: Today was Ten’s second biggest day with trading volume of around $5.5 billion. $ goes It alone earned $2.4 billion and had assets under management exceeding $11 billion. Each is up more than 30% in six days, which should help keep the momentum going. Experience a little bit of ARK Mania deja vu. pic.twitter.com/BDRYVPBk34

— Eric Balchunas (@EricBalchunas) March 4, 2024

The fate of the Ethereum (ETH) ETF is still unknown. On March 4, the SEC again postponed its decision on BlackRock’s application to issue an Ethereum-ETF in November 2023. The commission said it will conduct additional analysis of the proposed rule changes to determine whether they comply with securities laws. , which sets, among other things, national exchange rules for securities.

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