Why would there be any kind of surprise if we know that BlackRock is a name that has a reputation practically all over the world, and especially in the US. It is logical that they "grabbed" the largest part of the stake, although it should be said that Fidelity has only about 100 000 BTC less, while of the others only Ark and Bitwise record some results worth mentioning.I can only speculate that the CEO really doesn't know the extend of Bitcoin is, they just jump on the bandwagon because they have trillions and have a lot of big clientele. And when it pours there money then it dawn to him that Bitcoin is really that big and so he blurted this out. And as for us, retail investors, we already knew how bit Bitcoin is and that there will be a huge demand specially that we are in bullish market and so if they can accumulate, then why not average joe like the rest of us?
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And as for us, retail investors, we already knew how bit Bitcoin is and that there will be a huge demand specially that we are in bullish market and so if they can accumulate, then why not average joe like the rest of us?
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Fear When the bear market starts how will they react? Will they sell all their Bitcoin holdings or will they hold out?
Personally, I am more concerned about how BlackRock and other funds would behave in the event that a serious BTC fork appears, because according to what is written in the documentation from BlackRock, they say that they reserve the right to decide which chain to follow - which means that can choose a forked version of Bitcoin. Be that as it may, it is never good for so many BTC to be found in the possession of one or only a few companies.In addition to being concerned about how BlackRock and other companies behave in the down season, this is another really worthwhile point that you raised, I mean, this could have a serious role and a huge negative impact on the original Bitcoin network if a fork occurs.
There is so much demand for BTC through the spot etf, and even if i am a believer of not your keys, not your coins, i don't think this is going to slow down at all. So many people do not like to manage their own keys and have it in their own custody, and now they have an opportunity to buy 'BTC' through big companies like Blackrock. These institutions would have so much more coins in their possession in a few years time.
In addition to being concerned about how BlackRock and other companies behave in the down season, this is another really worthwhile point that you raised, I mean, this could have a serious role and a huge negative impact on the original Bitcoin network if a fork occurs.
So yes, I completely agree with you that accumulation a large number of Bitcoins in the hands of one or a few companies is very dangerous for decentralization and the future of the network as a whole.
BlackRock (NYSE: BLK) — one of the largest investment companies in the world — is positioning itself in the Bitcoin (BTC) mining industry. The investment giant is already the second-largest shareholder in four out of the five biggest Bitcoin miners by market capitalization.
People should also know one important fact, which is that BlackRock has been investing in BTC mining companies for some time, and in my opinion, this does not mean that they are only interested in profit, but also control over those who are crucial for the functioning of Bitcoin. I would like to be wrong, but it doesn't seem to me that there are really "honorable intentions" behind everything.Thank you for this information. In fact, I had no idea that BlackRock was working in the Bitcoin mining industry. This is really eye-catching information.
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The second reason: According to my expectation, a huge company like BlackRock is not satisfied with being just an ordinary investor. Rather, the thinking of giant companies is mostly to control the market and not just an ordinary investment company, so acquiring Bitcoin, whether through direct purchase or mining, will give them greater control over the market.
BlackRock, the world’s largest asset manager, has today updated the list of Authorized Participants (APs) for its spot Bitcoin exchange-traded fund (ETF), IBIT. The ETF, which has been live since January 11, 2024, allows investors to gain exposure to Bitcoin without directly holding the digital assets.
According to the latest prospectus, BlackRock has added five new Authorized Participants to the list, expanding the total number of APs from four to nine. The new additions include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC.
Authorized Participants play a crucial role in the creation and redemption of ETF shares, facilitating the process by transferring cash to and from the Trust Administrator through one or more accounts. The expansion of the AP list is expected to enhance the liquidity and accessibility of IBIT for investors.