Key Takeaways:
- BlackRock warns of rising crypto scams targeting iShares spot Bitcoin and Ether ETF investors via social media.
- The iShares Bitcoin Trust (IBIT) has accumulated $19.7 billion since January, leading U.S.-approved spot Bitcoin ETFs.
- BlackRock predicts significant future allocations to Bitcoin and Ether, with CEO Larry Fink endorsing Bitcoin as “digital gold.”
BlackRock, a leading asset management firm, has issued a warning about a rise in crypto scams targeting investors of its iShares spot Bitcoin and Ether ETFs.
These scams involve impersonators on social media platforms like WhatsApp and Telegram, offering training or investments.
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. We urge caution in dealing with individuals, websites or social media platforms using our brand and…
— BlackRock (@BlackRock) July 28, 2024
BlackRock emphasized that it never contacts users via social media to demand payments or offer investments.
Since its launch in January, BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated $19.7 billion in Bitcoin investments, outpacing all other U.S.-approved spot Bitcoin ETF providers combined.
🚨 BlackRock, one of the world's largest asset managers, has warned investors to beware of scams targeting its iShares spot Bitcoin and Ether ETF products, cautioning against interacting with impersonators on social media platforms like WhatsApp or Telegram. These scammers often…
— BitcoinWorld Media (@ItsBitcoinWorld) July 29, 2024
Robert Mitchnick, BlackRock’s head of digital assets, noted significant client interest in Bitcoin and Ether, predicting a future allocation of around 20% to Ether and the rest to Bitcoin.
BlackRock CEO Larry Fink recently endorsed Bitcoin as “digital gold” and a legitimate financial instrument with potentially uncorrelated returns.
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