TechFlow news — On September 24, Bloomberg senior ETF analyst Eric Balchunas revealed that BlackRock is taking innovative measures to secure the assets of its Bitcoin spot ETF (IBIT). BlackRock operates its own blockchain node and extracts Bitcoin balances nightly from Coinbase Prime’s wallet address to verify the amount of Bitcoin held by IBIT.
Balchunas noted that BlackRock is willing to share these verification data with institutional clients upon request but will not make them publicly available. This decision stems from BlackRock having received large volumes of spam-related transactions, including sanctioned Bitcoin and NFTs; disclosing such information publicly could lead to a surge in similar spam. As an industry giant managing approximately 500 ETFs, BlackRock has long entrusted ETF assets to custodians, and no major issues have arisen to date.
