BlackRock substantially increased the number of Bitcoin futures contracts in which it participates, but they represent a minimal proportion of equity
BlackRock and Bitcoin futures
According to the document filed with the SEC, the company that manages more than US $ 9.5 billion in assets has a total of 54 futures contracts of Bitcoin (BTC) issued through the Chicago Mercantile Exchange (CME), at least until last 31 of July. Between the contracts that expired on August 27, around US $ 10.8 million were moved, capitalizing profits of US $ 369,000. According to details from BlackRock, the capitalized earnings with the Bitcoin futures contracts represent approximately 0, 00138% of the global allocation fund managed by the company, estimated at about 8.91 BTC at the currently managed exchange rate.
BlackRock revealed that it handles a large number of Bitcoin futures contractsRegarding BlackRock’s interest in products associated with cryptocurrencies, the director of the company’s intelligence area, Rick Rieder, indicated at the time that they were venturing a bit into this sector, although the CEO, Larry Fink, recently assured that they did not perceive as much demand among investors as they expected.
The Bitcoin market
While BlackRock’s reading of the capitalized results is mainly focused on the evolution of Bitcoin futures traded at Through CME, the company may be leaving out other marketing modalities that are much more common within the cryptocurrency market. Beyond the futures market operated by exchanges, the overall volumes recorded by the main exchanges reveal that in the last 24 hours some US $ 30,308 million were traded only in operations with Bitcoin , which reflects a great interest on the part of investors and enthusiasts of the digital currency.
There are currently many people interested in the Bitcoin worldFor their part, companies like MicroStrategy are taking the idea of Bitcoin very seriously as an investment asset that will be in high demand in the future. In this regard, the CEO of the company, Michael Saylor, constantly defends the innovative nature of its technological proposal, qualifying it as the safest investment within the ecosystem of digital currencies. However, although many analysts and enthusiasts defend the good prospects for Bitcoin in the medium-long term, the price of the digital currency has been shaken in recent weeks by the announcements made by the Chinese government and the current political instability in the United States. . At the time of publication, the digital currency is trading at about US $ 41,226, capitalizing losses of 1.67% in the last 24 hours.
Note: This article have been indexed to our site. We do not claim ownership or copyright of any of the content above. To see the article at original source Click Here
Misxi 2 Pack Hard PC Case with Tempered Glass Screen Protector Compatible with Apple Watch Series 9 (2023) Series 8 Series 7 45mm, Ultra-Thin Scratch Resistant Cover for iWatch S9/S8/S7, Black
$9.96 (as of June 30, 2024 21:12 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Blink Video Doorbell | Two-way audio, HD video, motion and chime app alerts and Alexa enabled — wired or wire-free (Black)
$59.99 (as of June 30, 2024 21:12 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
2024-1 oz Tokelau Silver Mustang Coin Prooflike with Certificate of Authenticity $5 Seller PL
$50.24 (as of June 30, 2024 21:12 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
2024-1 oz Alderney .999 Silver D-Day 80th Anniversary Coin Brilliant Uncirculated with Certificate of Authenticity 1 Troy ounce £1 Seller BU
$47.31 (as of June 30, 2024 21:12 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
