35 BlackRock Reaches Major Bitcoin MilestoneInvestment giant BlackRock is making waves in the crypto space again, as their Bitcoin holdings are expected to surpass 100,000 BTC today according to market data. This milestone demonstrates BlackRock’s growing conviction in Bitcoin’s long-term viability.Just yesterday, there were significant cryptocurrency fund flows related to BlackRock according to statistics. The Grayscale Bitcoin Trust (GBTC) saw an outflow of 1,920 BTC valued at $95.03 million. However, nine recently launched cryptocurrency ETFs targeting Bitcoin saw a whopping inflow of 12,072 BTC worth $398 million on the same day. Taking these figures together, there was a net inflow into BlackRock’s cryptocurrency products of 10,152 BTC or $493 million in the latest 24 hour period. Read More CryptoNews: 8 Years of HODLing Ethereum | Cryptocurrency Market Plunges | BTC USDT Technical Analysis Chart OverviewSince the launch of these new ETFs, Grayscale has seen total outflows of 155,695 BTC. But at the same time, the nine BlackRock ETFs have brought in flows totaling 228,394 BTC so far. Put together, there has been a net inflow into BlackRock’s crypto offerings adding up to 72,699 Bitcoin with the launch of these ETF products.Crossing the 100,000 BTC mark exemplifies BlackRock’s growing crypto presence. As the world’s largest asset manager with over $10 trillion in assets under management, BlackRock brings unmatched size and influence to the cryptocurrency ecosystem. The company is clearly intent on expanding its crypto offerings to qualified investors and institutions – a trend that could greatly benefit broader Bitcoin adoption long-term. For an asset manager known for its adherence to traditional assets, this latest Bitcoin milestone shows BlackRock’s conviction in Bitcoin’s future.Join Twitter: https://twitter.com/CryptoPatel
