Bitcoin ETF Whales Likely To Invest Major Capital In BTC Acquisition: Blackrock

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 30, 2024 19:57

According to Adam Back, Blockstream CEO, in a post on X, the market should anticipate institutional investors with huge buying power to dominate the market. With $5 trillion worth of funds, Bitcoin ETF whales are likely to invest a majority of the capital into Bitcoin acquisition and consolidating their positions. Analysts say that BlackRock, with its over $10 trillion AUM, will probably take the lead among asset managers in spot Bitcoin ETFs. BlackRock sees enormous potential in Bitcoin and has consistently bet on the digital asset to go bullish.