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According to a report from The Block on May 21, Deep Tide TechFlow news states that asset management company Blackstone has entered the crypto market for the first time, purchasing approximately $1 million of the BlackRock Bitcoin Spot ETF ( IBIT ). SEC documents released on Tuesday show that as of March 30, this investment giant, which manages over $1 trillion in assets, has only allocated a very small proportion of its funds to the crypto market. This cautious move aligns with the conservative stance of Blackstone co-founder and CEO Stephen Schwarzman, who previously expressed in 2019 that it was "difficult to understand" Bitcoin and voiced concerns that it could facilitate criminal activities.