Goldman Sachs Increases BlackRock’s Bitcoin ETF Stake by 28% to $1.4B Amid Record $62.9B Inflows

Goldman Sachs has significantly increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) ETF, boosting its holdings by 28% to 30.8 million shares, now valued at $1.4 billion. This move underscores the growing institutional interest in Bitcoin ETFs. BlackRock’s IBIT ETF itself saw a substantial acquisition of 10,572 Bitcoin this week, surpassing the average weekly mining output of 3,150 Bitcoin. This indicates strong demand for Bitcoin through ETF investments. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant