Exchange-traded funds usually mean rapid growth and development of the SEC-approved asset. It is no different with Bitcoin, which generates even more interest from the new players in the crypto market. BlackRock Bitcoin ETF stands at the pole position.
BlackRock Bitcoin ETF: 200,000 BTCs In Holdings
The ETF’s introduction to Bitcoin has started a new era, thanks to the entrance of several new major investment funds. Even though it doesn’t specifically mean “owning” the cryptocurrency, its supply and demand mechanism has resulted in significant price rises since January 2024, reaching its ATH in the first half of March.
BlackRock Bitcoin ETF stands as one of the most significant players in the market. The fund keeps expanding its substantial BTC portfolio, inevitably reaching the 200,000 BTC milestone in the upcoming days. Investors observe the corresponding battle between the exchange fund and MicroStrategy.
How is MicroStrategy preparing for the Bitcoin Halving?
To briefly present MicroStrategy’s phenomenon, the company went almost all-in on investments in Bitcoin. This approach shows invaluable trust in the market. Since March 2023, MicroStrategy’s value has boosted by over 600%. To compare it with its most essential asset, BTC can present “just” over 240% growth in the same period.
On March 11th, MicroStrategy bought 12,000 BTC. That purchases – including BlackRock’s investments – show how does the biggest players react on the current situation.
BlackRock Bitcoin ETF: Why Does It Matter?
2024 is the year of the fundamental financial events for the whole Bitcoin ecosystem. Except for the introduction of ETFs, investors also keep tabs on the upcoming halving event, likely to happen in the middle of April 2024.
BlackRock Bitcoin ETF, along with other major players in the market, decided to trust Bitcoin by entering the market with massive resources. Its impact on the market was inevitable, based on the historical performance of Bitcoin.
You can check Bitcoin price’s fluctuations in the chart below:
BTC price is going parabolic.
