Bitcoin ETF

Bitcoin

BlackRock

BlackRock, the New York-based asset management goliath, noticed an uptick in crypto scammers targeting its iShares spot Bitcoin and Ether&nbsp;investor base and issued an alert against social media impersonators.
On July 29, BlackRock urged investors to avoid all social media interactions with individuals or businesses posing as BlackRock representatives that typically bait victims by offering training or investments. The warning said:
<blockquote data-ct-non-breakable="true">
 “There has been a spike in investment-related scams, including directing users toward crypto investment-related websites and/or social media platforms such as WhatsApp or Telegram.”
</blockquote>
<h2 id="scammers-increasingly-target-bitcoin-etf-investors">Scammers increasingly target Bitcoin ETF investors</h2>
Scammers impersonating BlackRock are actively targeting crypto exchange-traded funds (ETFs) investors through various social media platforms. Users are advised to note that BlackRock never contacts users through social media platforms to demand payments or offer investments.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/add4beb8-4c6b-4b67-9658-02ca830ba63d.png" alt="BlackRock imposters target crypto ETF investors ">
 <figcaption style="text-align: center;">Source: <a href="https://x.com/BlackRock/status/1817672808853377193" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>
 </figcaption>
</figure>
<h2 id="blackrock-attracts-major-bitcoin-investment">BlackRock attracts major Bitcoin investment</h2>
BlackRock’s iShares Bitcoin Trust (IBIT) racked up $19.7 billion in roughly seven months since its launch on Jan. 11. It currently stands as the leader in terms of total inflows and holds investments more than all <a href="https://cointelegraph.com/news/sec-spot-bitcoin-etf-approvals" rel="noopener noreferrer nofollow">nine other US-approved spot BTC ETF providers</a> combined.
Check out Cointelegraph’s detailed guide to understand <a href="https://cointelegraph.com/learn/blackrocks-bitcoin-etf" rel="noopener noreferrer nofollow">how BlackRock’s Bitcoin ETF works</a> and its underlying benefits and opportunities for investors.
Related: <a href="https://cointelegraph.com/news/blackrock-bitcoin-etf-inflows-biggest-since-march" rel="noopener noreferrer nofollow">BlackRock Bitcoin ETF records biggest inflow day since March at $523M</a>
Robert Mitchnick, BlackRock’s head of digital assets, said the firm sees <a href="https://cointelegraph.com/news/blackrock-foresees-very-little-interest-crypto-etfs-beyond-bitcoin-ethereum-bitcoin2024" rel="noopener noreferrer nofollow">“very little interest” among clients in crypto beyond Bitcoin and Ether</a>&nbsp; (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) while speaking at the Bitcoin 2024 conference on July 25 in Nashville, Tennessee. He said:
<blockquote>
 “I would say that our client base today, their interest overwhelmingly is in Bitcoin first, and then somewhat in ETH… and there’s very little interest today beyond those two.”
</blockquote>
Mitchnick added that he expects investors to eventually allocate around 20% of their crypto holdings to ETH, with the remainder going to Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>).
BlackRock CEO Larry Fink recently revealed having a change of heart about <a href="https://cointelegraph.com/news/blackrock-larry-fink-calls-bitcoin-digital-gold" rel="noopener noreferrer nofollow">Bitcoin and believes that the decentralized asset is “digital gold”</a> and a “legitimate” financial instrument.
“It (Bitcoin) is a legitimate financial instrument that allows you to maybe have uncorrelated type of returns,” he said a CNBC interview with Jim Cramer.
Magazine: <a href="https://cointelegraph.com/magazine/thorchain-founder-jp-thor-vampire-attack-defi/" rel="noopener noreferrer nofollow">THORChain founder and his plan to ‘vampire attack’ all of DeFi</a>

BlackRock imposters target crypto ETF investors

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