United

Bitcoin ETF

BlackRock

<p>On August 5, 2024, a report revealed that asset management giants such as BlackRock, Fidelity, Grayscale, and MicroStrategy did not succumb to panic despite a significant drop in the crypto market. Unlike many investors who sold their assets, these institutions maintained their positions! Demonstrating an unwavering confidence in the long-term potential of cryptocurrencies.</p>
<h2 id="h-crypto-a-sharp-drop-followed-by-a-recovery">Crypto: a sharp drop followed by a recovery</h2>
<p>The market drop was marked by <a href="https://www.cointribune.com/en/crypto-defi-in-crisis-ethereum-drops-by-20/" target="_blank" rel="noopener noreferrer nofollow">massive sell-offs</a>, but a notable rebound followed the opening of the American market. The main cryptos, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), recorded impressive price increases of 10%, 12%, and 22% respectively. This rebound was partly attributed to the introduction of a Bitcoin ETF in the United States, which generated a trading volume of 1.3 billion dollars in one hour! Reinforcing the confidence of investors and traders.</p>
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<p>Despite this recovery, some whales and institutions continued to move large quantities of crypto to Binance. For example, a whale wallet address deposited 19,557 ETH, worth 48.14 million dollars, while Metapha deposited 10,000 ETH, worth 25.5 million dollars. These movements indicate a certain caution among major market players, even though asset managers like BlackRock and Fidelity remain firm in their positions.</p>
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<h2 id="h-the-confidence-of-asset-management-giants">The confidence of asset management giants</h2>
<p>According to the data, BlackRock holds 342,700 BTC, Fidelity 180,000 BTC, Grayscale 226,500 BTC, and MicroStrategy 226,500 BTC. Their decision not to sell despite market volatility reflects a long-term strategy and confidence in the resilience of crypto. This approach contrasts with individual investors who often tend to react more emotionally to market fluctuations.</p>
<p>The stability shown by BlackRock, Fidelity, Grayscale, and MicroStrategy during periods of <a href="https://www.cointribune.com/en/crypto-crash-a-plunge-of-500-billion-dollars/" target="_blank" rel="noopener noreferrer nofollow">crypto market turbulence</a> sends a strong message about their long-term vision. As the market continues to recover, the confidence of these asset management giants might well inspire other investors to adopt a similar approach.</p>

Crypto Giants Not Selling Despite the Storm! Why?

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