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GODGIFT. 2y ago

Many don't realize that BlackRock needs real #Bitcoin  to back their Spot ETF.

BlackRock stated that they are allocating funds to seed ETFs this month, meaning they are going to buy #Bitcoin  from the market!

It's possible they acquired their Bitcoin a few months back when prices were more favorable.

However, it seems more likely that they have intentionally pushed the prices down to secure a more advantageous entry point.

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Derek Ross 2y ago

BlackRock does not make money based on their entry into market. BlackRock does not make money if the price of Bitcoin goes up. BlackRock would only make money on the ETF management fees that they charge their customers. If anything, I feel that BlackRock would want the price of Bitcoin to go up so that it looks advantageous to clients, so that they can sell more shares, and in turn generate more fees.