Bitcoin News and Finance
Blackrock’s Spot Bitcoin ETF Now Holds 11,439 BTC Skip to main content

Blackrock’s Spot Bitcoin ETF Now Holds 11,439 BTC

Blackrock’s Spot Bitcoin ETF Now Holds 11,439 BTC

Blackrock’s spot bitcoin exchange-traded fund (ETF) has acquired 11,439 bitcoin, with a market value of nearly $500 million, within two days of trading on the Nasdaq stock exchange. Blackrock’s Ishares Bitcoin Trust was among the 11 spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) this week.

Ishares Bitcoin Trust’s BTC Holdings

Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), now holds 11,439 bitcoin.

According to Ishares ETFs’ website, IBIT’s holdings comprised 11,439.2198 bitcoin with a market value of $497,994,992.41 as of Jan. 12. The largest cryptocurrency now represents 99.99% of the trust holdings. Blackrock explained: “The value shown for ‘shares’ represents [the] total number of bitcoins held by the Ishares Bitcoin Trust.”

Crypto enthusiast known as Martyparty pointed out on social media platform X Saturday that on Jan. 11, Ishares Bitcoin Trust held roughly 50% bitcoin and 50% cash (U.S. dollars), while other spot bitcoin ETFs like Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin Fund, and Ark 21shares Bitcoin ETF held 100% in bitcoin. He opined:

Yesterday, I reported that Blackrock moved 50% of their ETF into cash. Well today, they updated and they did indeed, as I thought, buy the dip. They are now back in 100% in bitcoin.

“How did they know? We have a new set of whale traders in the game. The ETF fund managers can trade in and out of cash, any cash, any currency, forex included,” he added. The price of BTC surged to $49,000 on the first day of spot bitcoin ETF trading but fell below $42,000 on the second day. At the time of writing, BTC is trading at 42,885.90.

Blackrock’s Ishares Bitcoin Trust was among the 11 spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) on Wednesday. The fund started trading the following day on the Nasdaq stock exchange.

Although SEC Chairman Gary Gensler cast the deciding vote to approve 11 bitcoin ETFs, he later clarified that the approval doesn’t mean the Commission has approved or endorsed bitcoin. He continued to caution investors about the risks of investing in crypto assets. SEC Commissioner Hester Peirce said the delay in spot bitcoin ETF approval “squandered a decade of opportunities.”

What do you think about Blackrock’s spot bitcoin ETF holding 11,439 BTC? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory