Bitcoin Whales Shift Focus to ETFs Amid SEC Rule Change
Recent developments in the cryptocurrency market highlight a significant shift as large Bitcoin holders, known as 'whales,' increasingly turn to exchange-traded funds (ETFs) like BlackRock's IBIT. This trend follows a US SEC rule change, which enables these investors to maintain exposure to Bitcoin while integrating into the traditional financial landscape.
BlackRock has already facilitated over $3 billion in conversions into its spot Bitcoin ETF, attracting significant assets. Additionally, the recent inflows into Bitcoin ETFs, notably after Bitcoin's price surge, indicate a growing appetite for these investment vehicles.
Meanwhile, Cathie Wood's ARK Invest is also positioning itself in this space with plans for new Bitcoin ETFs. Overall, these movements reflect a dynamic interplay between cryptocurrency and traditional finance, suggesting a promising future for Bitcoin investments.
The press radar on this topic:
Bitcoin whales quietly embrace BlackRock ETF following SEC rule change
New SEC update lets BlackRock open Wall Street to unusual investors
Spot Bitcoin ETF inflows return as BTC briefly surpasses $113k
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