▲ BlackRock Bitcoin spot ETF promotional video/Source: Bitcoin Magazine |
BlackRock, the world's largest asset management company, released a promotional video for IBIT, its Bitcoin (BTC) spot ETF, on the 28th (local time). According to Bitcoin Magazine, the video included the message, “Bitcoin is a nascent asset and is still only one-tenth of the gold market.”
JUST IN: BlackRock releases video saying " #Bitcoin is a nascent asset, it's only 1/10th the size of the gold market" 🚀
— Bitcoin Magazine (@BitcoinMagazine) June 27, 2024
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Meanwhile, Bitcoin Magazine reported, “It was discovered that Blackrock’s Global Allocation Fund purchased the BTC Spot ETF (IBIT).” BlackRock's Global Allocation Fund manages assets worth approximately $17.8 billion. Previously, BlackRock announced in a filing with the U.S. Securities and Exchange Commission (SEC) that it plans to purchase the BTC spot ETF with its global allocation fund.