Bitcoin and crypto prices rose this week as investors applauded Donald Trump’s decisive election victory in the United States. Considering the $100,000 Bitcoin price.

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Bitcoin price soared through 2024 thanks to Trump’s embrace of Bitcoin. Fed’s interest rate cut expectations and China’s incentive measures and the adoption of Wall Street.

Now, As markets prepare for Trump’s “game-changing” move A leak has revealed that BlackRock, the world’s largest asset manager, is in talks to buy a stake in the “king” of spot bitcoin exchange-traded fund (ETF) holders.

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Forbes‘$100,000 by 2025’—Donald Trump and Elon Musk Strengthen Big Bitcoin Price Predictions as Dogecoin SoarsWith Billy Bambrough

BlackRock, the world’s largest asset manager, which is in the midst of a multi-phase plan to digitize Wall Street with crypto and blockchain, is in talks to buy a small stake in $70 billion alternative asset manager Millennium, a hedge fund explained Bitcoin is the “king” of ETF holders, according to a study Finance Times report Quoting anonymous sources.

It was revealed earlier this year that Millennium held approximately $2 billion worth of spot bitcoin ETFs as of the first quarter of 2024; There is almost $2 billion in five spot bitcoin ETFs, led by a nearly $800 million stake in BlackRock’s IBIT bitcoin fund.

Last month BlackRock CEO Larry Fink summarized BlackRock’s plan for bitcoin, ethereum, and crypto during its third-quarter earnings call predicts that bitcoin, ethereum, and crypto will be “joined” by artificial intelligence.

“We believe bitcoin is an asset class in itself, we believe it’s an alternative to other commodities like gold,” said Fink, who spearheaded the introduction of a full-fledged spot bitcoin ETF to U.S. markets on Wall Street last year.

The arrival of a fleet of spot bitcoin ETFs on Wall Street this year was the first step in what Fink called a digital “revolution” when he announced his crypto ambitions for BlackRock.Featuring a blockchain-based alternative to the US dollar.

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ForbesTrump’s US Strategic Bitcoin Reserve ‘Game Changer’ Suddenly Accelerates Towards Bitcoin PriceWith Billy Bambrough

On Thursday, BlackRock’s IBIT saw record net inflows; $1.1 billion flowed into the Bitcoin fund, shattering the previous record of nearly $900 million set in late October.

“We expect continued inflows into both exchanges and ETFs, resulting in increased market volatility and other exposures,” Caroline Bowler, CEO of BTC Markets, said in emailed comments, citing the 300% increase in BTC Markets’ cryptocurrency investments. It leads to potential spillover effects to crypto investment funds.” he said. user logs in this week.

“This could encourage greater liquidity and trading volume. There is also a significant risk of a feedback loop where increased ETF inflows push Bitcoin prices higher and attract more capital. This increase in interest overall suggests Bitcoin is increasingly viewed as a fundamental investment.” ” Rather than a speculative play, the asset potentially signals the beginning of a period of ever-increasing activity in the crypto market.”