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

[sirty143]

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... See more for yourself here.

Your opinion is greatly appreciated.

[Z-tight]

That is a huge amount they have acquired in just two days of trading and it will potentially increase. BTC etf's is a really big event in the BTC industry and these companies are going to acquire a lot of BTC. The price of BTC didn't pump as people expected after the approval of spot etf's in the u.s. market, but i think it is just a matter of time, BTC price does not move on only hype, a pump in price happens in an organic manner.

[yhiaali3]

The price of BTC didn't pump as people expected after the approval of spot etf's in the u.s. market, but i think it is just a matter of time, BTC price does not move on only hype, a pump in price happens in an organic manner.

People expected the price of Bitcoin to rise insanely after the approval of spot ETFs in the United States, but this did not happen. On the contrary, we see that the price of Bitcoin fell slightly.

I think the reason is that companies had already bought Bitcoin before. We did not see the huge demand for Bitcoin that we should have seen, so this indicates that companies bought Bitcoin before.

The striking thing is that Ethereum rose by a greater percentage compared to Bitcoin before and after approval.

[joniboini]

I think the reason is that companies had already bought Bitcoin before. We did not see the huge demand for Bitcoin that we should have seen, so this indicates that companies bought Bitcoin before.

The selling pressure can also come from retail traders in general. It is no secret that ETF is going to get approved sooner or later and people have been buying BTC for the last few months, so this is not surprising. I won't be surprised if some big players are selling too while looking for a better buying opportunity to increase their bag before halving comes. At the end of the day, the effect of any major event is likely going to happen months after that.

[Charles-Tim]

People expected the price of Bitcoin to rise insanely after the approval of spot ETFs in the United States, but this did not happen. On the contrary, we see that the price of Bitcoin fell slightly.

Bitcoin spot ETF in United States was approved on 10th January, 2024. Bitcoin price was boring at the time and fell a little but later it increased. The highest price of bitcoin since 2022 till now was on January 11th, 2024 when it increased to almost $49000. So the price still increased after the ETF approval but people may not be expecting any bear market as it happened after.

[hugeblack]

So the price still increased after the ETF approval but people may not be expecting any bear market as it happened after.

The opposite will happen. Most people think that an ETF means that millions are flowing into the market, but instead of simply going to Coinbase and buying Bitcoin, and there is no legal guarantee for that, investors go to one of these ETFs and buy shares that have legal acceptance, and then Blackrock buys Bitcoin and keeps it, so the market will not change unless investors change their outlook on Bitcoin.

Therefore, the prediction for Bitcoin will not differ much, and we may see a correction soon below $40,000, but in the long term, especially when there is a rise in the price of Bitcoin, it will be an inflated pump, as these whales love to manipulate the markets.