BlackRock Warns of Crypto Scams Targeting ETF Investors 4o mini
29.07.2024 18:00 1 min. read Alexander Stefanov
BlackRock has issued a warning about a surge in crypto scams targeting investors in its iShares Bitcoin and Ether ETFs.
The asset management company advised investors to avoid social media interactions with anyone claiming to represent BlackRock and offering investment opportunities or training, particularly on platforms like WhatsApp and Telegram.
Since its launch in January, BlackRock’s iShares Bitcoin Trust has accumulated $19.7 billion in Bitcoin, surpassing other U.S. spot BTC ETF providers in total inflows.
At the Bitcoin 2024 conference, BlackRock’s digital assets head, Robert Mitchnick, highlighted that client interest is predominantly in Bitcoin and Ethereum, with little demand for other cryptocurrencies.
He anticipated that investors would likely allocate around 20% of their crypto portfolios to Ethereum, with the majority in Bitcoin.
BlackRock CEO Larry Fink recently acknowledged Bitcoin as “digital gold” and a legitimate financial asset, marking a significant shift in his perspective.
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