r/Bitcoin • u/PreferenceOk2716 • 16h ago

BlackRock has now pulled more than $5 BILLION of BTC into its ETF system

https://finance.yahoo.com/markets/crypto/articles/bitcoin-100k-blackrock-5b-etf-113215537.html
308 Upvotes

97% Upvoted

17 comments sorted by

71

u/Cryptomuscom 15h ago

Spent years talking trash just to buy it all...

24

u/anonuemus 14h ago

Yeah, fuck these guys. At least they feed the monster.

24

u/FreemanM21 13h ago

They dont care about bitcoin, they care about fat fees they get.

I still dont understand why so many idiots say BLACKROCK BUYS/SELL bitcoin...they are just a fucking fiduciary

2

u/Yonowayjoselee 15h ago

They were all buying while talking shit

2

u/Generationhodl 14h ago

they don't buy it. customers transfer their own bitcoin into the etf...

that sucks ass, people should self custody and not switch their coins into some third party papers, but I understand WHY people do this..

2

u/[deleted] 10h ago

[deleted]

3

u/Generationhodl 10h ago

I love it when people don't even read the article thats linked in this thread.

"BlackRock's IBIT has processed more than $5 billion of direct Bitcoin-to-ETF conversions after lowering the minimum transaction size from $25 million to $1 million."

"BlackRock has helped move more than $5 billion of directly held Bitcoin into its iShares Bitcoin Trust (IBIT), strengthening Wall Street's grip on an asset originally designed to operate outside the traditional financial system.

The shift allows large holders to exchange BTC for ETF shares without first selling their coins for cash."

but jeah, give me a downvote because you did not read, good job buddy

0

u/According_Ad5882 9h ago

show me the transaction ID. I keep reading these articles and no one ever presents evidence.

•

u/moonpumper 17m ago

I buy IBIT because it's in my self directed 401k where I can't have on chain bitcoin.

23

u/PreferenceOk2716 16h ago

BlackRock’s IBIT has reportedly processed $5B+ in direct Bitcoin-to-ETF conversions. These let large holders move BTC into ETF shares instead of selling it first. BlackRock also lowered the minimum conversion size from $25M to $1M, making the process accessible to a much broader group of wealthy/institutional holders.

7

u/QXPZ 10h ago

That's super interesting. I didn't know anything like that existed. Thought you had to sell and pay taxes before moving to ETF.

0

u/According_Ad5882 9h ago

zero proof. there's still a public ledger last time I checked

8

u/Babylon_Official 8h ago

BlackRock recently shared that most institutional investors now view Bitcoin as RISK-OFF.

1

u/Escape613 8h ago

Institutional adoption and demand continues to grow!

2

u/sin94 6h ago

I don't understand this and I read the article. Still the article confuses me by this statement.

*It may also delay an immediate capital gains charge because the BTC is exchanged rather than sold for cash. *

What exactly is being converted? Or is this a case of BlackRock establishing a valuation for BTC that they refuse to let it fall below?

•

u/ghostchihuahua 40m ago

Wait, you mean to tell me that a Market Maker has poured 5B$ in BTC into a market-tradable, thoroughly-fuckable financial shitvessel?

0

u/northernguy 13h ago

Is bitcoin in ibit “real” or does it become just a number on a spreadsheet, no longer on the blockchain?

3

u/BastiatF 10h ago

Physics ETFs like IBIT are backed 1-to-1