BlackRock has issued a warning to investors about a rise in crypto scams targeting its iShares Bitcoin and Ether ETFs, urging caution against social media impersonators.
Points
- BlackRock alerts investors to an increase in crypto scams involving its ETFs.
- Social media impersonators are directing users to fake investment websites.
- BlackRock’s iShares Bitcoin Trust has attracted significant investment.
BlackRock, the New York-based asset management giant, has noticed an uptick in crypto scammers targeting its iShares Bitcoin and Ether exchange-traded funds （ETFs）. The company issued an alert warning investors to avoid social media interactions with individuals or businesses posing as BlackRock representatives.
On July 29, BlackRock urged caution, noting a spike in investment-related scams directing users towards crypto investment-related websites and social media platforms such as WhatsApp or Telegram.
“There has been a spike in investment-related scams, including directing users toward crypto investment-related websites and/or social media platforms such as WhatsApp or Telegram.”
Scammers Increasingly Target Bitcoin ETF Investors
BlackRock’s iShares Bitcoin Trust （IBIT） has amassed $19.7 billion in Bitcoin since its launch on January 11, making it the leader in total inflows among US-approved spot BTC ETF providers. Despite this success, the firm’s head of digital assets, Robert Mitchnick, noted that client interest remains primarily focused on Bitcoin and Ether, with little interest in other
cryptocurrencies. BlackRock CEO Larry Fink has also expressed his belief that Bitcoin is a “legitimate financial instrument,” likening it to “digital gold.”
BlackRock Attracts Major Bitcoin Investment
The significant inflows into BlackRock’s iShares Bitcoin Trust underscore the growing institutional interest in Bitcoin as a digital asset. The success of BlackRock’s Bitcoin ETF has pushed BTC prices to new heights, reflecting increased investor confidence.
“It （Bitcoin） is a legitimate financial instrument that allows you to maybe have uncorrelated type of returns,” Fink said in an interview with CNBC’s Jim Cramer.
Mitchnick’s Insights on Client Interest
Mitchnick emphasized that while Bitcoin and Ether dominate client interest, other cryptocurrencies have yet to gain significant traction. This focus highlights the ongoing preference for established digital assets among institutional investors.
Mitchnick on Bitcoin and Ether
Mitchnick mentioned that investors are expected to allocate around 20% of their crypto holdings to Ether, with the remainder going to Bitcoin. This allocation strategy indicates a cautious but growing acceptance of these major cryptocurrencies.
解説
- The rise in scams targeting BlackRock’s ETFs underscores the importance of investor vigilance and the need for robust security measures.
- BlackRock’s success with its Bitcoin ETF highlights the increasing institutional adoption of cryptocurrencies, signaling a maturing market.
- Larry Fink’s endorsement of Bitcoin as a “legitimate financial instrument” adds credibility to the digital asset and may influence broader acceptance among traditional investors.
- The focused interest on Bitcoin and Ether by institutional investors suggests a cautious approach, favoring well-established cryptocurrencies over newer, more volatile options.
- Investors should remain cautious of scams and rely on official channels for information and transactions to protect their investments.