Blackstone makes first bet on Bitcoin, buys only $1.08 million in IBIT fund

Odaily News Blackstone has finally made a move on Bitcoin, but the investment giant still doesn't seem to be taking the world's largest cryptocurrency seriously. As of the end of March, Blackstone held only $1.08 million worth of BlackRock Spot Bitcoin ETF (IBIT), the first time Blackstone has disclosed investing in crypto assets. With a total size of more than $60 billion, the ETF is the most popular ETF that tracks Bitcoin prices. Despite managing more than $1 trillion in assets, Blackstone's investment in Bitcoin is still "just a little bit." As early as 2019, Blackstone co-founder and CEO Stephen Schwarzman said he didn't like Bitcoin, "I don't have much interest in it because it's hard for me to understand."