-
Eric Balchunas: BlackRock executes $3 billion in Bitcoin ETF trades
Eric Balchunas, a senior ETF analyst at Bloomberg, has revealed that BlackRock has conducted $3 billion worth of portfolio trades involving Bitcoin Exchange-Traded Funds (ETFs). These trades involve large holders of Bitcoin, commonly referred to as 'whales,' who are converting their physical Bitcoin into ETF shares to take advantage of various benefits offered by traditional finance. The concept, known as custom creations, is gaining traction, especially among major investors looking for flexible trading options akin to those in the bond market. This development underscores the increasing intersection of ... (full story)