BlackRock makes a surprising move as Bitcoin reacts

BlackRock’s Global Allocation Fund disclosed ownership of 43,000 IBIT sharesrevealed that this was the case across most Bitcoin ETFs in June. At press time, Grayscale Bitcoin Trust led the pack with nearly $559 million in outflows since 10 June.As of 27 June, GBTC was the only BTC ETF to record $11.4 million in outflows, while others recorded inflows or remained neutral with zero inflows or outflows.

“In an SEC filing today, BlackRock’s Global Allocation Fund disclosed owning 43,000 shares of the iShares Bitcoin Trust as of April 30.“This follows two filings that BlackRock made on May 28 disclosing Bitcoin exposure in its Strategic Global Bond Fund and in its Strategic Income Opportunities Portfolio .

Needless to say, with the crypto-community now eagerly anticipating the launch of a Spot Ethereum ETF and on the back of VanEck’s Solana update, BlackRock’s surprising revelation has sent ripples across the market. “Does this mean they own Bitcoin themselves and not only on their customers behalf? This is news right ?”On the back of these updates, BTC saw a modest hike of 0.35%, with the crypto trading at $61,401 at the time of writing.

And yet, Bitcoin was still struggling to break into the bullish zone on the charts, as confirmed by the RSI remaining well below the neutral level.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.

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