There are speculations that the entry of leading traditional financial giants might revolutionize the cryptocurrency sector.
BlackRock, one of the most prominent asset managers, has entered the crypto sector, and at the time, its ETF was claimed to be the most traded. The approval of the BTC spot ETF has changed the growth pace of the market.
In an updated filing with the Securities and Exchange Commission of the United States, BlackRock has outlined its intent to invest in physically-backed Bitcoin Exchange-traded products (ETPs), including its own iShares Bitcoin Trust (IBIT) and those offered by different companies.
BlackRock Global Allocation Fund, Inc. institutional Share may acquire the ETF offered by BlackRock and other companies. Available information states that this Allocation Fund was established in 1989.
It is largely claimed that BlackRock has a motive to invest its funds directly in Bitcoin with the help of the US SEC.
The filing further states, “Th
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