🏦 BlackRock Wants Satoshi's Bitcoin Holdings!
Bitcoin ETF issuers increase their holdings and are rising as the top global holders.
Hey Thinkers 💡
📈 Wall Street's Bitcoin ETF Issuers Surge in Holdings
The landscape of Bitcoin ownership is rapidly changing as Wall Street's Bitcoin ETF issuers significantly increase their holdings. These financial giants are quickly climbing the ranks among the world's top Bitcoin holders, signaling a major shift in the market dynamics.
Top Bitcoin Holders: Wall Street's Rise
A compelling chart now shows these ETF issuers nearing the top of the list of Bitcoin holders worldwide.
According to Bloomberg's Eric Balchunas, "US spot bitcoin ETFs now have 84% of the bitcoin that Satoshi has, on track to have more and take over the top spot by Halloween. That was fast!" This tweet highlights just how quickly these ETFs are accumulating Bitcoin, with the potential to surpass even the legendary holdings of Satoshi Nakamoto.
BlackRock's Dominance: A Busy Day for IBIT
Shaun Edmonson also weighed in, tweeting, "Another busy day for BlackRock’s Spot Bitcoin ETF (IBIT) yesterday. Quick reminder that approximately 450 are mined daily. BlackRock acquired almost 4,000. Fidelity is a beast but is being left in the dust. Wonder if Vanguard will look back and realize it lost the entry point to the new world. Small people need to get after it quick…. World is changing." BlackRock's aggressive acquisition strategy is leaving competitors in the dust, and it raises the question of whether other major players like Vanguard will regret not entering the market sooner.
A Bullish Outlook for Crypto
What we're witnessing is nothing short of extraordinary. It's only a matter of time before these ETF issuers collectively surpass Satoshi's number one holding spot, although it wouldn't be surprising if Larry Fink at BlackRock has his eyes on claiming that top spot solo.
Want further confirmation? Today news broke of the Nasdaq, in collaboration with CF Benchmarks, has filed with the Securities and Exchange Commission (SEC) to list and trade the Nasdaq Bitcoin Index Options (XBTX). If approved, this new product will offer investors a sophisticated tool to manage and hedge their Bitcoin investments through options, which the Nasdaq said will further "the maturity and liquidity of the asset class."
This trend is incredibly bullish for the future of the crypto market as wall street continues to buy up Bitcoin and Ethereum for their ETFs, global liquidity is on the rise, the Federal Reserve poised to cut rates and print more money, and the mainstream adoption of crypto is accelerating.
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📰 Latest Crypto News:
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Russia to start using crypto for international transactions next week.
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