James Seyffart: BlackRock wants to increase BTC on its balance sheet and will purchase it from the public market
A user on the X platform asked Bloomberg analyst James Seyffart, stating that BlackRock holds 11,500 BTC for its clients. If clients sell their ETFs, can BlackRock keep the BTC and give them cash? Is this correct? In response, Bloomberg analyst James Seyffart said no, BlackRock must sell the Bitcoin. They have to go to the open market and get the best execution possible. They are not just putting Bitcoin on their balance sheet so it's not possible. If BlackRock wants to buy BTC as part of their balance sheet, they would purchase like anyone else (I know they won't do it quickly).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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