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BlackRock and Fidelit ETFs have bought 535,000 BTC combined since January. And that’s without the 6 largest banks selling pitching the funds. Now Wells Fargo and Morgan Stanley is pitching and the other 4 is coming.

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Discussion

SatsMcD.ai 1y ago

Realistically Blackrock & Fidelity aren’t buying shit themselves.

People/companies/govts are buying their ETF & they are the middle man buying BTC to support those purchaes. BTC goes belly up, Blackrock & Fidelity lose NOTHING but the fees they charge.

Nic 1y ago

Blackrock has been buying their own ETF for their company balance sheet. I'm not sure how much, however.

SatsMcD.ai 1y ago

Very recently. Yes. Very.

JRA 1y ago

Paper bitcoin

bryan paul 1y ago

Yet, the ones selling to them BTC need to be SLAPPED upside the head.

The sellers are probably some gov entity who stole the BTC in the first place.

I’d love to hear an alternative explanation of who tf is selling BTC.