CRYPTO BREAKING NEWS
— InnovatekMobile (@Neome_com) July 10, 2023
Bitcoin Sharks and Whales Accumulated $2B Worth of BTC Since BlackRock’s ETF Filing. The last time BTC Sharks and Whales held over 13.02 million BTC was in mid-April this year. check us out @ https://t.co/8dh137aX4R pic.twitter.com/vL5u0R5nkD
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Demand for BlackRock's Bitcoin ETF sparks Bitcoin (BTC) rush
Wed 12 Jul 2023 ▪
3
min of reading ▪ by
Getting informed
▪
Trading
A few weeks ago, asset manager BlackRock filed a Bitcoin ETF application with the SEC. The procedure had far-reaching consequences for the crypto market. Effects that are still being felt today.
Sharks and whales have bought $2.14 billion worth of bitcoins since June 17
BlackRock’s recently introduced Bitcoin ETF application has not gone unnoticed by bitcoin supporters. According to the latest reports, bitcoin sharks and whales have flocked to the asset on a massive scale.
According to the latest information, bitcoin sharks and whales have flocked to the asset, acquiring $2.14 billion worth of bitcoins since the request was submitted on Saturday, June 17. According to data from crypto analysis platform Santiment, this sum would cover the acquisition of 71,000 BTC over the period.
The key point to take away from this trend is that for the past three weeks, investors’ appetite for bitcoin has been active. This momentum is directly linked to the Bitcoin ETF process launched by BlackRock.
The move initiated by this global finance giant speaks volumes about the relevance the latter’s asset has acquired. This could explain why the craze surrounding the flagship crypto shows no signs of abating. This, even as the crypto price appears to be stagnating.
The asset hasn’t particularly moved since it hit the $30,000 mark for the second time this year. A slowdown that shouldn’t hinder adoption of the flagship crypto.
This is, in fact, the opinion shared by some members of the crypto community in the wake of the initiative undertaken by BlackRock. Someone like Anthony Scaramucci believes that bitcoin could be adopted en masse. That’s if major financial institutions like BlackRock join the trend.
Others, such as Invesco and WisdomTree, have not waited long to enter the Bitcoin ETF race. For the time being, however, there’s no guarantee that they’ll be successful, even if the odds are 50% in their favour.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.