BlackRock now holds over $1 billion Bitcoin in its spot ETF
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BlackRock’s spot Bitcoin ETF has swiftly garnered over $1 billion in assets, hitting the milestone within its first week of trading. The flood of capital shows intense demand from investors seeking direct and regulated crypto exposure.
However, CBDCs face ongoing political hostility as Donald Trump vowed to prevent the creation of CBDCs if elected president. He joins critics like Ron DeSantis in attacking digitized central bank currencies as freedom-threatening.
Beyond Bitcoin, institutional interest continues to grow across crypto as Franklin Templeton expressed bullishness on Ethereum, Solana, and other layer 1s. They see bright futures thanks to coming upgrades like proto-danksharding on Ethereum and cite interesting DeFi and NFT developments within Solana. Ordinals and Bitcoin layer 2s also won backing for strengthening BTC’s economics.
Between institutional adoption, regulatory spot product launches, and technological improvements across chains, tailwinds persist for broader crypto despite political threats localized to CBDCs and stablecoins. Mainstream investment comfort levels are rising with a wider understanding of crypto’s impact.
Today’s Newsletter
- BlackRock now holds over $1 billion Bitcoin in its spot ETF
- Donald Trump vows to ‘never allow’ central bank digital currencies if elected
- Franklin Templeton bullish on Ethereum, Solana, and other layer-1 networks
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BITCOIN
BlackRock now holds over $1 billion Bitcoin in its spot ETF
BlackRock’s spot Bitcoin ETF has swiftly garnered over $1 billion in assets, hitting the milestone within its first week of trading. The fund now holds around 25,000 BTC, representing 99% of its composition outside minor cash reserves. It also continues to trade at a slim premium to Bitcoin prices. The rapid influx cements BlackRock as the first of the new US issuers to reach the $1 billion threshold amid intensifying institutional demand.
Average daily trading volumes of over 14 million shares also showcase an intense appetite for direct Bitcoin exposure from Wall Street heavyweights. As analyst Eric Balchunas noted, Wednesday marked the best single day of inflows for spot products, with over $1 billion entering the crypto space. If sustained, forecasts predict staggering capital could enter through these regulated vehicles as asset managers activate distribution channels. [cryptobriefing]
BITCOIN
Donald Trump vows to ‘never allow’ central bank digital currencies if elected
Former President Donald Trump has vowed never to allow the creation of a CBDC if elected, joining critics like Florida’s Ron DeSantis. Trump stated that CBDCs would give the federal government “absolute control” over citizens’ money that could disappear without notice. While no official US CBDC currently exists, the topic has become a hot political issue.
In addition to freedom concerns, many see CBDCs as overextending central bank reach into personal finances and enabling greater surveillance. Lawmakers in crypto-friendly states like Florida have passed anti-CBDC bills to resist perceived encroachments before proposals materialize. However, larger trends toward global adoption paint an uncertain picture of how much national leaders can constrain the rise of digitized money, regardless of stated opposition. [coindesk]
MARKETS
Franklin Templeton bullish on Ethereum, Solana, and other layer-1 networks
Franklin Templeton expressed optimism about Ethereum, citing growth drivers like proto-danksharding, ‘community revitalization’, and upcoming improvements to liquid staking markets. The asset manager also noted intriguing recent DeFi, NFT, memecoin, and scaling advancements within Solana’s ecosystem. Beyond the two largest layer-1s, Franklin Templeton intends to actively support and monitor other promising smart contract platforms as they mature.
The firm noted how Bitcoin layer-2 protocols and Ordinals strengthen BTC’s economics and cement its status as a Store of Value. With over $1.4 trillion under management, Franklin Templeton’s mounting interest signals growing institutional comfort with crypto as an asset class. From technological milestones to user growth, the firm sees regulatory spot products like Bitcoin ETFs as just the start of broader adoption rather than the finish line. [cryptobriefing]
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Other News
Crypto products see net outflows so far this week as investors shuffle funds: CoinShares. [theblock]
Next Week’s Token Unlocks
- INJ is preparing for a substantial unlock of $135M, which equates to a 4% increase in supply. Keep an eye on the market dynamics as this could influence its current market cap of $3.1B.
- IMX will see a $16.24M unlock, increasing the supply by 0.65%, against a backdrop of a $2.5B market cap.
- ALGO’s upcoming unlock of $2.8M represents a 0.20% increase in supply, which could interact with its $1.4B market cap in unpredictable ways.
- DYDX has an upcoming unlock of $6M, a 0.69% supply increase, potentially impacting its $910M market cap.
- RDNT’s next unlock is set at $1M, marking a 0.96% uptick in supply. Its market cap is currently $150M.
- ID is anticipating a relatively moderate unlock of $9M, accounting for a 7% rise in supply, juxtaposed with its market cap of $126M.
Data powered by Token.unlocks.
Diego & Vince
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