Celsius

Bitcoin ETF

Bitcoin

BlackRock

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 <p class="paragraph">In the first year of the ‘crypto winter,’ pension funds – specifically Canadian pension funds – found themselves making headlines in various crypto outlets as they ended their cryptocurrency forays either before they began in earnest or after suffering major losses as companies like Celsius collapsed.</p>
 <p class="paragraph">Things have quieted down since for large institutional investors – at least with regard to the crypto markets – albeit with some exceptions, such as Vanguard’s acquisition of a large stake in Bitcoin (BTC) miners.</p>
 <p class="paragraph">This year, however, brought a massive change to the dynamic as in January, after years of waiting, the Securities and Exchange Commission (SEC) approved 9 spot Bitcoin exchange-traded funds (ETFs), seemingly opening the floodgates for crypto-wary investors to gain exposure using familiar vehicles.</p>
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 <h2 class="wp-block-heading" id="h-blackrock-foresees-massive-institutional-investors-trading-btc-etfs">BlackRock foresees massive institutional investors trading BTC ETFs</h2>
 <p class="paragraph">According to BlackRock’s head of digital assets, Robert Mitchnick, the <a rel="noopener noreferrer nofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> <a rel="noopener noreferrer nofollow" title="giant" href="https://thebittimes.com/tag/giant.html">giant</a> now expects BTC ETFs to see the coming of massive new and returning investors – Pension Funds, Sovereign Wealth Funds, and Endowments.</p>
 <p class="paragraph">As of May 2024, BlackRock is reportedly playing the role of an educator for such institutional investors in hopes of attracting them to Bitcoin exchange-traded funds and is seeing a general resurgence in interest from such entities.</p>
 <p class="paragraph">At the time of publication, BlackRock operates tha second-largest Bitcoin ETF – the iShares Bitcoin Trust (IBIT) – which boasts approximately $17 billion in assets under management (AUM).</p>
 <p class="paragraph">The financial <a rel="noopener noreferrer nofollow" title="giant" href="https://thebittimes.com/tag/giant.html">giant</a> is also working on closer relations with sovereign wealth funds – specifically the Saudi Arabian sovereign wealth fund – albeit, at this stage, unrelated to the world’s premier cryptocurrency and is reportedly setting up the BlackRock Riyadh Investment Management (BRIM).</p>
 <h2 class="wp-block-heading" id="h-headwinds-or-tailwinds">Headwinds or tailwinds?</h2>
 <p class="paragraph">While the approval of the ETFs certainly brought benefits for institutional Bitcoin adoption, the cryptocurrency’s continued volatility could still present a major roadblock for entities such as pension funds.</p>
 <p class="paragraph">Indeed, the world’s premier cryptocurrency has been experiencing significant fluctuations in recent weeks as it has been trading in a relatively wide range between just under $57,000 and slightly over $70,000 without any guarantees about its forthcoming trend – though recent technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) hints at an imminent rally.</p>
 <p class="paragraph">Still, the risks may ultimately not turn away major investors and traders as evidenced by two significant wealth managers&nbsp; – Legacy Wealth Management and United Capital Management of Kansas – recently disclosing substantial stakes in BTC ETFs.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/10-trillion-investment-giant-outlines-tomorrow-s-bitcoin-bulls-tbt87241.html">https://thebittimes.com/10-trillion-investment-giant-outlines-tomorrow-s-bitcoin-bulls-tbt87241.html</a></p>

$10 trillion investment giant outlines tomorrow’s Bitcoin bulls

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TheBitTimes

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