@maxcrypto Blackrock does not trade crypto - they manage crypto ETFs. Rather than deploy their own capital and take on their own risk they charge 0.25% on the AUM of IBIT and all Bitcoin purchases made by Blackrock wallets are using institutional (mostly funds) sovereign or retail cash
@maxcrypto Blackrock has no direct BTC exposure, one of their funds holds around $3mm of their ETF IBIT. This is ETF flows as institutions, retail and sovereigns lower their exposure