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Home Bitcoin

iShare Bitcoin Trust stock rises by 13% in 5days

July 22, 2024
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iShare Bitcoin Trust stock rises by 13% in 5days
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  • iShares’ Bitcoin Trust stock rose by 13% in five days.
  • Blackrock and Trump’s possible political partnership and ETF inflows are some factors driving the surge.

Early this year, iShares’ Bitcoin [BTC] Trust soared following the approval of Bitcoin spot ETFs. Additionally, Blackrock has experienced exponential growth, achieving a record $10.6T in assets under management.

According to the report, the firm added $83b to ETFs, with the CEO crediting the firm’s growth to Strong ETF inflows.

Source: Google Finance

Despite the firm’s growth, iShares’ BTC Trust stock has declined by 1.69% in the past six months, according to Google Finance.

However, in a reversal of fortunes, the past weeks have seen a sustained rise. Over the past five days, its shares have surged by 13.08% while soaring by 13.68% over the past 30 days.

The recent surge has brought speculation on what is driving the rise. Therefore, various recent developments have changed the narrative in favor of iShares BTC Trust.

BlackRock CEO and Trump partnership

The U.S. political space is currently facing considerable influence from the crypto community. As the country prepares for 2024 presidential election, crypto is taking center stage.

In a dramatic turn of events, Donald Trump became a pro-crypto candidate. Based on his current stand, there have been sustained reports that he is considering BlackRock CEO Larry Fink for Treasury secretary.

As reported on various X (formerly Twitter) pages, as noted by Satyam Singh,

“Donald Trump is considering #BlackRock CEO Larry Fink as Treasury Secretary.”

These rumors have been welcomed with excitement by various stakeholders within the crypto community. Many believe appointing a pro-crypto Treasury secretary is the only way to end the current SEC war on crypto.

See also  Bitcoin: Rising spot ETF frenzy affects these areas

iShares BTC Trust: Increased inflow

Source: Blockworks

BTC ETFs’ approval has undoubtedly become a game changer for various institutional investors. For instance, a week ago, BTC ETF inflow reached $310M in a single day, with iShares leading the way.

The increased inflow for iShares BTC Trust primarily rose because it’s cheap, with an expense ratio of 0.25%, and investors pay $25 annually on a $10k fund.

This affordability has attracted various investors to purchase iShares while selling others, such as Nvidia. Over the past week, notable individuals have purchased iShares BTC Trust.

First, Ken Griffin at Citadel Advisors started buying iShares’ BTC Trust shares after selling NVIDIA’s stake.

Then, David Shaw and Israel Englander started a sizable share of the iShares BTC trust stake, making it one of the largest holdings.

This increased inflow has pushed its asset under management to $17.24B, with a trading volume of $1.78B more than other firms.

Bitcoin, a legitimate financial instrument?

Finally, the market sentiment towards BTC among institutional investors has changed drastically. Most institutions investing in BTC are racing to accumulate and anticipate higher returns.

For instance, BlackRock has stood out as a vocal supporter of BTC, encouraging the recent inflow into iShares BTC Trust.


Read Bitcoin’s [BTC] Price Prediction 2024-25


In a recent interview on CNBC, Larry Fink, BlackRock CEO, acknowledged that BTC can be a legitimate financial instrument.

This endorsement by Larry is significant as it offers comfort to investors considering adding BTC ETFs to their portfolio. With this trajectory, iShares’ Bitcoin stock is well positioned to soar as many investors join the race.

Next: Can Avalanche prices 2x after breaking THIS key pattern?

READ ALSO

Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

  • iShares’ Bitcoin Trust stock rose by 13% in five days.
  • Blackrock and Trump’s possible political partnership and ETF inflows are some factors driving the surge.

Early this year, iShares’ Bitcoin [BTC] Trust soared following the approval of Bitcoin spot ETFs. Additionally, Blackrock has experienced exponential growth, achieving a record $10.6T in assets under management.

See also  Foundry mined over a third of all Bitcoin blocks in the past week

According to the report, the firm added $83b to ETFs, with the CEO crediting the firm’s growth to Strong ETF inflows.

Source: Google Finance

Despite the firm’s growth, iShares’ BTC Trust stock has declined by 1.69% in the past six months, according to Google Finance.

However, in a reversal of fortunes, the past weeks have seen a sustained rise. Over the past five days, its shares have surged by 13.08% while soaring by 13.68% over the past 30 days.

The recent surge has brought speculation on what is driving the rise. Therefore, various recent developments have changed the narrative in favor of iShares BTC Trust.

BlackRock CEO and Trump partnership

The U.S. political space is currently facing considerable influence from the crypto community. As the country prepares for 2024 presidential election, crypto is taking center stage.

In a dramatic turn of events, Donald Trump became a pro-crypto candidate. Based on his current stand, there have been sustained reports that he is considering BlackRock CEO Larry Fink for Treasury secretary.

As reported on various X (formerly Twitter) pages, as noted by Satyam Singh,

“Donald Trump is considering #BlackRock CEO Larry Fink as Treasury Secretary.”

These rumors have been welcomed with excitement by various stakeholders within the crypto community. Many believe appointing a pro-crypto Treasury secretary is the only way to end the current SEC war on crypto.

iShares BTC Trust: Increased inflow

Source: Blockworks

BTC ETFs’ approval has undoubtedly become a game changer for various institutional investors. For instance, a week ago, BTC ETF inflow reached $310M in a single day, with iShares leading the way.

See also  Multiple spot Bitcoin ETFs to begin trading on CBOE tomorrow, pending SEC approval

The increased inflow for iShares BTC Trust primarily rose because it’s cheap, with an expense ratio of 0.25%, and investors pay $25 annually on a $10k fund.

This affordability has attracted various investors to purchase iShares while selling others, such as Nvidia. Over the past week, notable individuals have purchased iShares BTC Trust.

First, Ken Griffin at Citadel Advisors started buying iShares’ BTC Trust shares after selling NVIDIA’s stake.

Then, David Shaw and Israel Englander started a sizable share of the iShares BTC trust stake, making it one of the largest holdings.

This increased inflow has pushed its asset under management to $17.24B, with a trading volume of $1.78B more than other firms.

Bitcoin, a legitimate financial instrument?

Finally, the market sentiment towards BTC among institutional investors has changed drastically. Most institutions investing in BTC are racing to accumulate and anticipate higher returns.

For instance, BlackRock has stood out as a vocal supporter of BTC, encouraging the recent inflow into iShares BTC Trust.


Read Bitcoin’s [BTC] Price Prediction 2024-25


In a recent interview on CNBC, Larry Fink, BlackRock CEO, acknowledged that BTC can be a legitimate financial instrument.

This endorsement by Larry is significant as it offers comfort to investors considering adding BTC ETFs to their portfolio. With this trajectory, iShares’ Bitcoin stock is well positioned to soar as many investors join the race.

Next: Can Avalanche prices 2x after breaking THIS key pattern?
Tags: 5daysBitcoiniShareRisesStockTrust

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Ethereum crosses $3.2K as L2 crosses new milestone: What now?

Ethereum crosses $3.2K as L2 crosses new milestone: What now?

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The Seven Deadly Sins NFT Collection Hits OpenSea

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