This signifies a major win for BlackRock and comes a couple of weeks after U.Today reported that the CEO, Larry Fink, now considers himself a “major Bitcoin believer.” This represents a pivotal shift from his earlier stance on the digital asset. However, Fink claims to have realized that Bitcoin is authentic regardless of some apparent misuse of the world’s leading cryptocurrency.
In the meantime, as for its holdings in USD Cash, BlackRock holds a significant 325,375.08 in its portfolio.
Based on data, BlackRock witnessed a bullish run in July, as evidenced by the $525.5 million worth of Bitcoin ETF inflows on July 23. Based on analysis, it registered as one of the peak performances for the asset manager.
Last month, the company’s spot Ethereum ETF debuted for trading along with eight other companies.
Market observers remain keen on seeing how the asset will perform and if its success will mirror that of the Bitcoin ETF. Analysts are betting on BlackRock to invest funds in Ethereum just as it did with Bitcoin. However, they acknowledge that the growth trajectory may be slower.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
