Oddbean new post about login | logout BlackRock's Bitcoin ETF has crossed the $3 billion mark in BTC holdings, highlighting a significant pivot in institutional investment toward cryptocurrencies. A landmark moment as both BlackRock and ProShares ETFs outstrip Grayscale in daily trading volumes, showcasing changing investor preferences amidst the crypto market's evolution. With Grayscale experiencing $5.8 billion in asset outflows since January 11, the burgeoning ETF sector exemplifies mainstream finance's expanding endorsement of digital assets.
BlackRock's Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), has crossed the $3 billion mark in BTC holdings, indicating a significant shift in institutional investment towards cryptocurrencies . This milestone highlights the growing acceptance of Bitcoin as a legitimate asset class, even among traditional financial institutions .