Blackrock Stays Upbeat Amid ETF Withdrawals

By: Eliza Bennet

BlackRock, a leading asset management firm, addresses concerns following large outflows from its spot Bitcoin ETF in November. Despite a withdrawal of approximately $2.34 billion, BlackRock remains optimistic about the long-term viability of its Bitcoin ETFs, with business development director Cristiano Castro calling the situation 'perfectly normal' due to cryptocurrency market volatility. The growth of Bitcoin ETFs as a major revenue stream for BlackRock underscores their significance in institutional adoption of cryptocurrencies. Read more