Despite the SEC’s continued postponement of decisions regarding spot Bitcoin ETF applications, some experts remain optimistic about future approvals. There is speculation that BlackRock, the world’s largest asset manager, may be accumulating or planning to accumulate a substantial amount of BTC in the near future. Such discussions are prevalent on platforms like X and Reddit. For instance, on August 27, 2023, a Reddit user named “Kit” posted “Blackrock is buying your bitcoins,” which garnered 2,768 likes and was shared 346 times.
Asset managers are closing their short positions on Bitcoin, wrote the user “Cryptooonplug.” They probably know something we don’t. BlackRock is buying BTC
