BlackRock ETF Attracts 414 Institutional Investors in Q1
CryptoNewsTerminal Staff16 May, 2024
BlackRock ETF Attracts 414 Institutional Investors in Q1
BlackRock's much-anticipated bitcoin spot exchange-traded fund (ETF) attracted a staggering 414 institutional holders in the first quarter, according to a review of firms' 13F filings with the U.S. Securities and Exchange Commission (SEC). This is a significant number, as it is rare for a brand new fund to have even 20 institutional holders. The overwhelming demand for BlackRock's bitcoin spot ETF compared to other ETFs launched this year is a testament to the growing interest in bitcoin and other cryptocurrencies among institutional investors. The BlackRock bitcoin spot ETF is the first of its kind to be approved by the SEC. It provides investors with a way to gain exposure to bitcoin without having to purchase and store the cryptocurrency themselves. This makes it a more accessible and convenient option for institutional investors who are looking to add bitcoin to their portfolios.
