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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.

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.

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Discussion

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.