Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
BlackRock Adds Moonpay’s Lindsey Haswell To Its Board Amid Slowing Inflows

BlackRock Adds Moonpay’s Lindsey Haswell To Its Board Amid Slowing Inflows

CoineditionCoinedition2024/04/29 12:55
By:Ikemefula Aruogu
  • BlackRock has appointed Lindsey Haswell, Moonpay’s CLO to its board.
  • Haswell will replace Kimun Lee after the latter steps down in November this year.
  • Haswell’s appointment comes amid slowing inflows for IBIT.

BlackRock, a spot Bitcoin ETF market top contender, has appointed Lindsey Haswell, Moonpay’s Chief Legal Officer (CLO), to its board. According to the announcement, Haswell will replace current board member Kimun Lee after the latter steps down in November 2024.

Haswell held a similar role at Blockchain.com when she served as a board member of the establishment. She was also a founding member of the Core Blockchain, a famous open-source network. Hence, BlackRock anticipates she would bring her expertise to support IBIT’s growth.

Meanwhile, experts think Haswell’s appointment to the BlackRock board is timely, considering the firm’s current development stage. BlackRock’s IBIT is currently the second-largest spot Bitcoin ETF by assets under management (AUM). However, the product has slowed after a 71-day streak of steady inflows. Available data shows IBIT recorded zero inflows in the past three days.

It is essential to note that the recent development has not impacted IBIT’s stability. The leading ETF maintained a robust presence in the market, with inflows totaling $57.6 million as of the time of writing. Despite recording zero inflows, IBIT did not experience any outflows during this period, a development that has raised some outflows in the crypto sector.

Raja Soni, a finance analyst on X, voiced his concerns about IBIT’s transparency in reporting its figures. In a recent post , the analyst questioned the possibility of IBIT not selling their holdings when their clients sell. Hence, the chance of recording zero inflows and outflows for three consecutive days.In a separate post, Bloomberg’s ETF analyst, James Seyffart, reassured users about the recent trend, noting that it aligns with the broader ETF market behavior. According to Seyffart, minor mismatches would see the market makers handle the trading of shares just like they would for stocks. He explained that significant discrepancies must occur to prompt market makers to engage in the creation or redemption of ETF shares.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like