BlackRock Launches A New Spot Bitcoin Fund – Commentary
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A commentary from Alex Adelman, CEO & Co-founder of Lolli, on BlackRock’s launch of a new spot bitcoin fund.
BlackRock’s New Bitcoin Fund
“Bitcoin’s price increase on the news of a new bitcoin fund from BlackRock, the world’s largest asset manager, reflects bitcoin’s transition into a new phase of adoption. Today, demand for bitcoin among Wall Street’s power players has effectively decoupled from prices in the broader crypto markets.
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This unflagging interest in bitcoin by BlackRock and its sophisticated institutional clients, even amid a market downturn in crypto at large, reflects a heightened, nuanced understanding of bitcoin’s global, long-term importance among market-moving players on Wall Street. Leading firms are now grasping bitcoin’s unparalleled position as a secure, digitally-native store of value with promise and utility for the global financial ecosystem.
Institutions like BlackRock, with more than $10 trillion in assets under management, only invest in financial products that they believe will be a lasting part of the financial markets. Blackrock’s bottom line interest is in securing their clients’ – and by extension, their own – capital. By launching a bitcoin fund, BlackRock is giving its vote of confidence in bitcoin as a key part of the future global economy.”
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