BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield

BlackRock has purchased $77 million for BTC Holdings through its flagship Ishares Bitcoin Trust (IBIT). This comes when they apply for a premium ETF designed to provide yields along with price exposure.

BlackRock strengthens BTC accumulation despite the recession

SOSOVALUE data BlackRock has recently confirmed it has purchased 703.7 BTC worth $79 million through the IBIT Bitcoin ETF. Despite recent market slump, the acquisition continues to accumulate.

BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC YieldBlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield
Source: SosoValue

The crypto market is witnessing a recession in the derivatives market. As Coingape previously reported, about $17 billion Bitcoin options are set to expire Delibit has a 152,000 BTC contract in crisis. The ratio of puts is 0.75, reflecting mild bearish feelings,

Traders are betting on potential shortcoming pressures, while the current trading price of the coin remains above $111,000. This background is even more noteworthy about the company’s sustained accumulation, as institutional influx appears to offset short-term market pessimism.

The new purchase included multiple transfers of approximately 300 BTC each. Funds were routed through Coinbase Prime. I had Arkham Intelligence It has been reported Yesterday, the company added more than $125 million in coins to separate transactions.

In particular, asset managers seem to favor Bitcoin over Ethereum. In previous transactions, BlackRock dumped ETH Buy more BTC. The move results in a net inflow of Pioneer cryptocurrency to $366.2 million, while Ishare’s Ethereum Trust reported a $17.39 million outflow.

“Premium” Bitcoin ETF BlackRock File

In a critical development, the company submitted to launch the iShares Bitcoin Premium ETF. The fund is designed to generate revenue from exposure through eligible call strategies. Unlike IBIT, which simply tracks the price of coins, the new product aims to provide stable yields for revenue-focused investors.

BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC YieldBlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield
Source: x

Bloomberg analyst Eric Balknass explained As a “sequel” to IBit. He suggested that it reflected the company’s intention to expand its suite. The company has also assembled the products as a way for investors to make money from coins while reducing volatility.

This follows the success of the iShares Exchange-Traded product. IBIT ETF has become the fastest ETF It has reached $80 billion in its management assets in history. Achieved within just 374 days, IBIT crushed previous records with Vanguard’s S&P 500 ETF. This product took nearly five years to reach the same milestone.

Furthermore, the company’s success encourages it to expand deeper. The report suggests that BlackRock tokenize ETFs On-chain. The company plans to use blockchain to represent traditional assets, such as stocks, in tokenized form.

However, the company faces set-up with other products. US SEC delayed ETH ETF staking request. The regulator extended the review period until October 30th, leaving uncertainty in the next step.

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