{"id":129676,"date":"2025-05-21T06:15:50","date_gmt":"2025-05-21T06:15:50","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129676"},"modified":"2025-05-21T06:15:50","modified_gmt":"2025-05-21T06:15:50","slug":"blackstone-buys-1m-worth-of-bitcoin-etf-in-first-crypto-bet","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129676","title":{"rendered":"Blackstone buys $1M worth of Bitcoin ETF in first crypto bet"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBlackstone, which bills itself as the \u201cthe world\u2019s largest alternative asset manager,\u201d disclosed its first-ever crypto-related purchase, buying shares in BlackRock\u2019s spot Bitcoin exchange-traded fund.<br \/>\nHowever, Blackstone\u2019s investment, reported in a May 20 filing with the US Securities and Exchange Commission, only totaled around $1.08 million \u2014 a fraction of the asset manager\u2019s $1.2 trillion portfolio.<br \/>\nBlackstone reported holding 23,094 shares of BlackRock\u2019s iShares Bitcoin Trust ETF (IBIT) as of March 31.<br \/>\nThe IBIT shares were added to Blackstone\u2019s Alternative Multi-Strategy Fund (BTMIX), which holds $2.63 billion worth of assets, Google Finance data shows.<br \/>\nThe filing shows Blackstone also bought 4,300 shares in crypto ATM operator Bitcoin Depot Inc. (BTM) for a total cost of $6,300 and spent $181,166 scooping up 9,889 shares of the ProShares Bitcoin ETF (BITO).Despite its claim as an \u201calternative asset manager,\u201d Blackstone has largely stayed away from crypto. In September 2019, Blackstone CEO Steve Schwarzman said he liked the concept of blockchain but thought its use for money was \u201cpretty odd.\u201d<br \/>\n\u201c[I was] raised in a world where someone needs to control currencies,\u201d he said at the time.<br \/>\nHe admitted he didn\u2019t have much interest in crypto, citing difficulties understanding the technology.<br \/>\nRelated: Bitcoin is signaling a golden cross \u2014 What does it mean for BTC price?<br \/>\nBlackstone invests in everything from private equity, real estate and credit to infrastructure, hedge funds and insurance solutions.<br \/>\nAccording to Blackstone\u2019s website, it had $37 billion worth of investable capital as of March 31.<br \/>\nMeanwhile, the state of Wisconsin Investment Board \u2014 one of the first state investment funds to provide Bitcoin exposure to US retirees \u2014 reported on May 15 that it liquidated all 6,060,351 of its IBIT shares worth $3.7 billion during the first quarter.<br \/>\nFlows keep coming in for BlackRock\u2019s IBIT<br \/>\nBlackRock\u2019s Bitcoin fund has not recorded an outflow in six weeks, since April 9, Farside Investors data shows.<br \/>\nIt has seen a 20-trading-day streak of inflows during that time, bringing its total net inflows to over $46.1 billion since it launched in January 2024.<br \/>\nThe Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARK) trail IBIT in all-time net inflows at $11.8 billion and $2.8 billion, respectively.<br \/>\nFlow data of the 11 US-based spot Bitcoin ETFs since May 2. Source: Farside InvestorsMagazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash<a href=\"https:\/\/cointelegraph.com\/news\/blackstone-buys-1-million-blackrock-bitcoin-etf-ibit?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBlackstone, which bills itself as the \u201cthe world\u2019s largest alternative asset manager,\u201d disclosed its first-ever crypto-related purchase, buying shares in BlackRock\u2019s spot Bitcoin exchange-traded fund. However, Blackstone\u2019s investment,&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129676"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129676"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129676\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129676"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}