Bitcoin ETF

Bitcoin

BlackRock

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<a href="https://u.today/blackrocks-bitcoin-etf-crosses-50-billion-milestone" rel="noopener noreferrer nofollow">BlackRock</a>, the world’s leading asset manager, has not posted any outflows in the past 12 days in the exchange-traded funds (ETF) market. This extends the asset manager’s streak of inflows. Per<a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">Farside Investor data</a>, BlackRock’s IBIT registered one of its highest inflows of $394.1 million on Monday.
<h2 id="blackrock-and-google-willow-correlation">BlackRock and Google Willow correlation</h2>
IBIT’s market contribution boosted the daily inflow to $479.1 million as Fidelity’s FBTC and Grayscale’s BTC added $175.5 million and $7.2 million to the ETF bag. Others had zero flows, except for Bitwise Ark and Grayscale.
Despite these figures, BlackRock’s IBIT has registered a significant drop in performance from its figures posted on Thursday, Dec. 5, when it hit $770.5 million.
Amid these ETF market performances, concerns have risen over a significant development that might affect Bitcoin. Google<a href="https://u.today/googles-new-quantum-chip-wont-kill-bitcoin-expert-says" rel="noopener noreferrer nofollow">unveiled</a> its Willow quantum-computing chip on Monday, Dec. 9. The announcement comes with implications that could impact Bitcoin’s status.
The Willow quantum-computing chip can resolve a super-complex problem within five minutes. This same task would take the fastest computer in the world 10 septillion years to process. This supersonic speed has triggered concerns among some stakeholders in the Bitcoin space.
Some users have voiced concerns that Willow could easily decode Bitcoin’s complex math SHA-256. If this happens, it could easily compromise the<a href="https://u.today/press-releases/is-proof-of-work-still-working" rel="noopener noreferrer nofollow">Bitcoin network</a>.
Hence, some financial analysts consider this a potential threat to Bitcoin and could mark the end of an era. They believe Willow’s presence might cause institutional investors to withdraw from betting on Bitcoin. This sentiment possibly impacted the drop in BlackRock Bitcoin ETF bets.
<h2 id="tech-analyst-remains-unmoved">Tech analyst remains unmoved</h2>
However, others maintain that concerns about Willow on Bitcoin remain unfounded and speculative. According to these groups, although Willow is fast, it is not powerful enough to pose any risk..."yet."
One of them, <a href="https://x.com/CinemadProducer/status/1866266046543597959" rel="noopener noreferrer nofollow">Cinemad Producer</a>, a tech expert and analyst in a thread on X, maintained that making a dent in Bitcoin’s security requires about one million high-quality qubits. Currently, Willow has 105 qubits. This suggests a huge gap from the needed amount to crack Bitcoin’s encryption.
Some are making connections between BlackRock ETF drop and Google’s Willow. However, the drop witnessed on the ETF market could have occurred due to market volatility or other macroeconomic factors. <a href="https://u.today/blackrock-buys-bitcoin-dip-as-etf-extends-inflow-streak" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

BlackRock Buys Bitcoin Dip as ETF Extends Inflow Streak

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