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Crypto

BlackRock's $183M Bitcoin ETF Bet Signals Growing Institutional Interest

Guavy AI Editorial Team
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BTC
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BlackRock, its latest move in the cryptocurrency market, has made a significant investment in Bitcoin. According to reports, the company has purchased $183.41 million worth of spot Bitcoin ETF product, marking the first time this amount has been recorded since July 6.

This is not an isolated incident, as Fidelity's bitcoin funds also saw net inflows totaling over $233 million on the same day. The surge in interest in Bitcoin comes after a two-month slump, with the cryptocurrency rebounding by 9.02% by July 31.

BlackRock's move has drawn attention to the growing institutional interest in Bitcoin, with many speculating about its potential impact on the market.

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