Hong Kong Investment Firm Loads Up on BlackRock Bitcoin ETF, Shares Grow to $688M

The Hong Kong Investment Group Avevenir abolished 3.4 million Blackkkkk’s Ishares Bitcoin Trust Etf (IBIT) shares during the first quarter, leading to the Fund’s share of nearly $ 700 million, according to a US regulatory application on Thursday – evidence that Bitcoin ETF was given among the financial installations.

Avenir had 14.7 million shares of Ibit $ 688 million from March 31, according to his application. This indicates an increase of 30% compared to Ibit Holdings in the fourth quarter of 2024. Ibit represents about 86% of the Avener portfolio, states Fintel Fintel.

In February, the company made it clear its commitment to investing in products aimed at cryptocurrencies, revealing that it had purchased about 11,300 and then worth $ 599 million in a press release. A company, who said This “appeared as the main institutional player on the digital asset market”, held about 52,500 shares of Fidelity Wise Origin Bitcoin Trust (FBTC), worth more than $ 4.2 million, according to data Rentel.

“This strategic move not only underlines Aveler’s trust in the future of digital assets, but also indicates a key moment in the evolution and business strategy of the brand,” Avenir said in a previous statement about his initiatives aimed at digital assets.

Decipher Came to a bicker for additional comments.

Avever’s 14.7 million Ibit shares are worth $ 863,478,000 based on recent prices. Ibit recently traded $ 58.74, Yahoo finance Data show. Bitcoin ETF offers investors access to property without holding it directly.

Additional company investments in Ibit reflects a strong occupation by Hong Kong and other Asian centers for digital property. It also comes because institutions are increasingly accepting cryptocurrency currency, especially Bitcoin, in the middle of the American permanent pro-crime of turns.

Spot Bitcoin ETF has created more than $ 41 billion net inflows from the top 10 of these products have been given to SEC’s approval from January 2024, despite the recent fall in trading, according to Data provider far away.

Their recent revival follows the issuance of the executive commands of US President Donald Trump to protect Bitcoin miners’ rights and approve of making a Strategic Bitcoin reserve In an American treasury. Directives emphasize the continuous commitment of President Trump to turn the US into “Indisputably bitcoin superpower and the cryptocurrency of the world’s capital ” – a pillar from his pillar The campaign promises a crypto community.

In the meantime, the Pro-Bitcoin initiatives have also attracted attraction at the local level in the last few months, with more than a dozen countries assessed the legislative proposals to add tokens to their cash regions.

Avenir increased Bitcoin ETF investment makes part of the recent encouragement to deepen its engagement with the digital property market. Last fall, the company launched its KRIPTO partnership program, awarding $ 500 million to cooperate with quantitative trade teams aimed at digital property around the world.

Edited by James Rubin