Web3 Diaries- BlackRock’s Bitcoin ETF First To Reach $2bn In AUM
Among the newly introduced spot bitcoin products, the BlackRock iShares Bitcoin ETF (IBIT) became the first to achieve $2 billion in assets under management (AUM) on Friday. This excludes GBTC, a closed-end fund managed by Grayscale, which had approximately $30 billion in assets under management (AUM) when it was converted to a spot ETF.
On Thursday, investors contributed over $170 million to IBIT, enabling the fund to buy almost 4,300 more bitcoin (BTC), bringing the total amount of tokens held to 49,952. Early on Friday, the price of bitcoin surged well past $40,000, pushing AUM above $2 billion.
ARK Raises ETF Bet; Offloads BITO Worth $42.7 mn
ARK Invest is betting big on spot bitcoin (BTC) exchange traded fund (ETF). What’s better way to demonstrate confidence in the product other than buying it?
That’s exactly the Cathie Wood’s investment firm has done. It has bought 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth approximately $62.3 million.
The company continued to offload shares of ProShares Bitcoin Trust ETF (BITO) in the last week while accumulating its own spot BTC ETF.
OpenSea CEO Teases M&A Interest Amid NFt Market Shakeup
Devin Finzer, the chief executive officer of OpenSea, has revealed that M&A opportunities are available for the non-fungible token (NFT) marketplace located in New York.
In light of the NFT industry’s erratic fortunes, Finzer disclosed that OpenSea has been venturing into uncharted territory and publicly showing interest in acquiring and maybe being purchased.
Finzer did not disclose the timeframe or the interested parties, but conceding that OpenSea is open to such opportunities. Furthermore, he underlined that OpenSea is not actively seeking purchasers at this time.
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