Blackstone Discloses $1M Stake in BlackRock's IBIT
The mega asset manager is dipping its toes into digital assets.
Blackstone disclosed its first-ever crypto investment with a modest $1.08M stake in BlackRock's spot 
Bitcoin ETF, The Block reports.
What’s the Scoop?
- First Crypto Investment: Blackstone disclosed a $1.08M investment in BlackRock's spot Bitcoin ETF, marking its first documented foray into crypto.
- Minimal Commitment: Despite overseeing $1 trillion in assets, Blackstone's BTC investment represents an almost negligible fraction of its portfolio.
- Cultural Shift in Progress: The move signals a subtle shift, as Blackstone's CEO previously expressed skepticism about Bitcoin's utility and its links to illicit uses.
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