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BlackRock doubles down on IBIT exposure through its Global Allocation Fund

The fund now holds over $17 million worth of shares from the spot Bitcoin ETF, which is among the 35 largest funds to ever launch.

CryptoSlate

Dec 27

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Happy Friday!

In today's newsletter, we delve into significant developments in the cryptocurrency landscape. BlackRock has made headlines by substantially increasing its stake in the Bitcoin spot ETF, IBIT, now valued at over $17 million, making it one of the largest funds of its kind. Meanwhile, Bitcoin whales are quietly accumulating BTC through privacy transactions, with a notable rise in CoinJoin activity—a trend that raises intriguing questions about market dynamics. Lastly, Strive Asset Management is shaking up traditional investing with its innovative bitcoin bond ETF filing, potentially benefiting from a more favorable regulatory environment under a future Trump administration. Keep an eye out for further insights on these key developments!

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The global crypto market cap is $3.28 trillion, with a 24-hour volume of $128.69 billion. The price of Bitcoin is $94,397.77, and BTC market dominance is 56.8%. The price of Ethereum is $3,321.85, and ETH market dominance is 12.2%. The best-performing sector is Move-to-Earn, which gained 21%. The Crypto Fear & Greed Index is currently Greed (74).