Based on a recent report by Bloomberg analyst Jamie Coutts, asset managers’ interest in Bitcoin stretches beyond exchange-traded funds (ETF) into the mining sector. In particular, Coutts speaks about BlackRock, describing the asset manager’s application with the US Securities and Exchange Commission (SEC) to offer a Bitcoin spot ETF as “unsurprising.” The analyst stated that BlackRock and other prominent global asset managers, namely Vanguard and State Street, have been involved in the Bitcoin mining industry for over three years. Related Reading: Bitcoin Mining Difficulty Hits New All-Time High As BTC Price Moves Sideways BlackRock And Other ESG-Driven Companies Investing In Bitcoin Mining, Analyst Says James Coutts stated that BlackRock began its venture into Bitcoin mining in 2020 by investing in Marathon Digital, the second-largest publicly traded mining company. Notably, this development occurred when the Bitcoin mining industry faced high criticism, likely due to the substantial reliance on fossil fuels. Over the last three years, Coutts reports that BlackRock, Vanguard, and State Street have increased their respective investments in Bitcoin mining companies, regardless of the market cycle. In ..
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