BlackRock’s Bitcoin ETF Smashes Through 700,000 BTC Milestone – Institutional Demand Goes Parabolic
Wall Street's crypto embrace hits hyperdrive as BlackRock's Bitcoin ETF crosses a jaw-dropping 700,000 BTC threshold. The institutional floodgates aren't just open—they're broken.
Why TradFi Can't Quit Bitcoin
Once the rebel asset, Bitcoin's now getting diamond-handed by the same suits who mocked it. BlackRock's ETF haul would make Satoshi smirk—700,000 BTC is enough to trigger exchange supply shocks. Guess those 'risk management' seminars finally covered digital scarcity.
The Irony of Institutional Validation
Banks spent years dismissing crypto as a bubble. Now they're cramming it into ETFs faster than you can say 'hypocrisy.' Nothing brings Wall Street to the table like proven demand—except maybe the fees they'll skim along the way.
What's Next? The 1 Million BTC Club
With this trajectory, BlackRock's fund could hoover up 1M BTC before legacy finance finishes its next PowerPoint on 'blockchain disruption.' The real question? Whether Bitcoin's price or institutional FOMO hits escape velocity first.
What it means for traders
Rajiv Sawhney, Head of International Portfolio Management at Wave Digital Assets International, told Decrypt he thinks this milestone is likely to have an impact far beyond the ETF industry.
Sawhney said that as "the investment base buying the ETF is more typical of buy-and-hold investors," it's dampening the volatility of BTC compared to past cycles.
He pointed out that "implied and realized volatility has continually witnessed incremental lows in recent months," citing the popularity of ETFs like BlackRock’s as one likely cause.
"If you are a market Maker or arbitrage hedge fund that thrives on volatility, this is not necessarily a good thing."
Sawhney expects this dynamic to continue into the summer, and for some traders to pivot to speculating on crypto-heavy equities like Japanese investment firm Metaplanet or stablecoin giant Circle.
