The world's largest asset management company BlackRock has increased the amount of Bitcoin on its balance sheet.
According to the website, BlackRock has increased the amount of Bitcoin (BTC) in its iShares Bitcoin Trust (IBIT) to 242,829. The fund's spot Bitcoin ETF assets under management reached $15.5 billion at the current exchange rate.
Source: iShares
Fox journalist Eleanor Terrett also reported that Robert Mitchnick, head of digital assets at BlackRock, noted that Bitcoin was the top priority for the company's customers, followed by Ethereum.
🚨NEW: Robert Mitchnick, Head of Digital Assets at @BlackRock, talks about how the asset manager thinks about other #cryptoproducts:
“For our customers, Bitcoin is predominantly their top priority. And then a little bit of Ethereum and very little of everything else.”
He says…
— Eleanor Terrett (@EleanorTerrett) March 22, 2024
Mitchnick emphasized that the crypto community wants even more crypto products from BlackRock, but that this deviates from the company's current focus.
“The crypto community would like to see a range of more crypto products from BlackRock, but he says, “That’s just not our focus.”
Robert Mitchnick, Head of Digital Assets at BlackRock
According to SoSo Value, IBIT ranked first in capital inflows as of March 21. The balance sheet increased by $233.4 million and the fund volume under management reached $13.3 billion. In second place is an investment product from Bitwise Asset Management with $12.1 million and in third place is the Valkyrie Bitcoin Fund (BRRR) with $4.72 million.
At the same time, the total daily capital outflow in the spot Bitcoin ETF sector was $93.8 million. The negative trend continues for the fourth consecutive day as outflows from Grayscale Investments' GBTC fund increased by $358.7 million. Between March 18 and March 21, the figure rose to over $1.8 billion, with total outflows amounting to more than $835 million.
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