Bitcoin

<ul><li>BlackRock&#39;s $1.33 billion BTC purchase via Coinbase Prime marks a major shift in institutional investment in cryptocurrencies.</li><li>FTX&#39;s liquidation of Grayscale Bitcoin ETF holdings, worth around $900 million, highlights rising concerns about Bitcoin market pressures.</li><li>The contrasting fortunes of Grayscale and BlackRock ETFs reveal a diversifying landscape, with new players and evolving investor interest.</li></ul>In a shift within the virtual asset space, <a href="https://cryptotale.org/?s&#61;BlackRock" rel="noopener noreferrer nofollow">BlackRock</a>, the world’s largest asset manager, has intensified its Bitcoin engagement. Consequently, the market is witnessing a substantial realignment. BlackRock recently acquired 33,431 BTC through Coinbase Prime. This move, worth around $1.33 billion, spotlights the growing interest in BTC as highlighted in a post by CryptoBusy, a renown crypto analysis platform.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ed4c874b42494b7f9411c1598669b425.png" />Besides, FTX, a renown exchange platform, has <a href="https://x.com/CryptoBusy/status/1749701540443808020?s&#61;20" rel="noopener noreferrer nofollow">liquidated</a> its holdings in Grayscale&#39;s Bitcoin ETF. This massive sell-off, totaling approximately $900 million, was part of a broader trend. FTX cleared out 22 million shares, contributing to a larger wave of outflows from the fund. Significantly, these sales have raised questions about ongoing selling pressure in the Bitcoin market.Grayscale&#39;s fund, existing for over a decade, transitioned from a closed-end fund to an ETF following <a href="https://www.sec.gov/files/rules/sro/nysearca/2024/34-99306.pdf" rel="noopener noreferrer nofollow">SEC approval</a>. Despite its long-standing presence, it witnessed major outflows, notably from FTX&#39;s liquidation. Moreover, the ETF landscape saw the addition of 10 new <a href="https://cryptotale.org/bitcoin-etf-investment-is-investing-in-bitcoin-etfs-a-right-choice/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>, with Grayscale&#39;s assets nearing $30 billion at the time of its conversion.Read full article at <a href="https://cryptotale.org/blackrock-acquires-33431-btc-worth-1-3b-stirring-market-dynamics/" rel="noopener noreferrer nofollow">CryptoTale.</a>

BlackRock Acquires 33,431 BTC Worth $1.3B Stirring Market Dynamics

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