Top Stories of The Week
BTC investors pour $1.1B into BlackRock ETF as Bitcoin marks another high
The world’s largest asset manager, BlackRock, accumulated more than $1 billion of inflows to its Bitcoin exchange-traded fund (ETF) across a record trading day as Bitcoin continued to break all-time highs.
On Nov. 7, BlackRock’s iShares Bitcoin Trust ETF (IBIT) clocked $1.1 billion in inflows, reclaiming inflow status after two consecutive days of outflows totaling $113.3 million, according to Farside data.
It came on a day when Bitcoin again hit all-time highs, reaching $76,943, according to CoinMarketCap data.
IBIT’s inflows represented almost 82% of inflows generated by the 11 United States-listed spot Bitcoin ETFs on the day, which amounted to $1.34 billion in total.
The Fidelity Wise Origin Bitcoin Fund saw the second-highest inflows at $190.9 million, followed by the ARK 21Shares Bitcoin ETF (ARKB) with $17.6 million.
Michigan pension fund maintains Bitcoin ETF investment, adds Ether ETFs
The State of Michigan Retirement System has added exposure to Ether exchange-traded funds (ETFs), according to a United States Securities and Exchange Commission (SEC) filing.
In a Nov. 4 SEC filing, Michigan’s state pension fund disclosed holding 460,000 shares of the Grayscale Ethereum Trust and 460,000 shares of the asset manager’s Ethereum Mini Trust. The investment, reporting for Sept. 30, added to the fund’s previously disclosed exposure to the ARK 21Shares Bitcoin ETF.
At the time of publication, the total value of the Bitcoin investments was roughly $18 million if Michigan maintained its holdings. The value of the 110,000 shares of the ARK 21Shares Bitcoin ETF held by the pension fund increased by roughly $1 million since being reported on June 30.
Pakistan moves to regulate cryptocurrency, CBDCs as legal tender
The State Bank of Pakistan (SBP) announced a package of policy…
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