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Over the past decade, Bitcoin (BTC) has emerged as a standout performer among assets, witnessing a significant surge in value since its inception. The remarkable profits generated by BTC have attracted attention from major global financial players, including BlackRock, the world’s largest asset manager boasting nearly $10 trillion in assets under management.

 

 

 

Despite the substantial returns associated with Bitcoin, financial institutions initially approached the cryptocurrency market cautiously, likely due to its inherent volatility. The preference for a spot ETF (Exchange Traded Fund) to mitigate risks was evident. In a groundbreaking move earlier this month, the US Securities and Exchange Commission (SEC) granted approval for 11 spot Bitcoin ETFs, with BlackRock being among the applicants.

 

 

As of today, BlackRock holds a noteworthy 11,439 BTC, valued at approximately $469,925,559. This positions BlackRock as the second-largest holder of BTC among the funds approved by the SEC, trailing behind GrayScale. It’s worth noting, however, that BlackRock does not claim the top spot for Bitcoin holdings. The wallet linked to BTC’s creator, Satoshi Nakamoto, retains the highest amount of BTC, surpassing 1 million coins and currently valued at around $35 billion.

 

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