Hong Kong Companies Invest Millions in Bitcoin (BTC) Through BlackRock

• According to US records, Hong Kong-based companies have invested tens of millions of dollars in Bitcoin through BlackRock.
• Monolith Management, based in Hong Kong, has allocated its fifth largest position in its portfolio to BlackRock’s spot Bitcoin ETF, traded under the code IBIT.
• Another Hong Kong-based investment firm, IvyRock Asset Management, also announced yesterday that it had acquired a stake of approximately $19 million from BlackRock’s Bitcoin fund.

Recent records reveal that Hong Kong-based firms are making substantial investments in Bitcoin through BlackRock, indicating a growing interest in cryptocurrency among Asian investors.

Monolith Management’s Major Investment in Bitcoin

According to records from the Securities and Exchange Commission (SEC), Monolith Management has invested $24 million in BlackRock’s spot Bitcoin ETF, traded under the code IBIT. This investment represents the fifth largest position in Monolith’s portfolio, surpassing even the stake it holds in Meta. Monolith Management was founded by Cao Xi, a long-time partner of Sequoia China.

IvyRock Asset Management’s Stake in BlackRock’s Bitcoin Fund

In a similar move, IvyRock Asset Management, another Hong Kong-based investment firm, announced that it had acquired a stake of approximately $19 million from BlackRock’s Bitcoin fund. This significant investment further underscores the growing interest and confidence in Bitcoin and other cryptocurrencies among Asian investors.

Conclusion

The substantial investments made by Hong Kong-based firms Monolith Management and IvyRock Asset Management in Bitcoin through BlackRock highlight the increasing interest in cryptocurrency in the Asian market. As more and more firms recognize the potential of digital currencies, we can expect to see further growth and diversification in the crypto market.

Tags: Bitcoin, BlackRock, Hong Kong