News - BlackRock has 50,000 Bitcoin worth two billion dollars

By Mike Hesp

BlackRock has 50,000 Bitcoin worth two billion dollars

Bitcoin (BTC)
ETF

Two weeks after trading began, BlackRock's Bitcoin Spot ETF breaks records: 50,000 Bitcoin worth two billion dollars.

BlackRock, the world's largest corporate manager, has won the race: As the first of the new publishers of Bitcoin Spot ETF's the company now manages about 50,000 Bitcoin worth two billion U.S. dollars with its iShares Bitcoin ETF (IBIT).

This puts BlackRock's Bitcoin ETF in third place compared to all ETFs launched last year. If it were up to Nate Gerace, president of ETF Store, the soon to be number one, as he announced on Twitter with a reference to the Bloomberg Terminal.

However, there is one company that outpaces BlackRock and its two billion-dollar offering: Grayscale. Its Bitcoin ETF GBTC currently holds about $20 billion in BTC. But because this is the converted trust that has been tradable for 10 years, it is difficult to compare it to the new ETFs.

However, the prices of Bitcoin and have not really taken off since the admission of the many ETFs. Many investors actually counted on ETFs as a price catalyst. So far, however, the financial products have not been able to fulfill this role.

One reason for the sideways movements: Much of the Bitcoin currently being sold and bought is being traded outside public trading centers.

Read on to find out why the lack of price volatility can also be seen as a positive: Bitcoin: Why the BTC sell-off is a "good sign."

At the time of writing, Bitcoin is trading at $42,313, up more than 4 percent this week. It remains to be seen if the short correction is over yet.

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