Crypto:
30205
Bitcoin:
$68.414
% 1.38
BTC Dominance:
%54.1
% 0.32
Market Cap:
$2.48 T
% 1.89
Fear & Greed:
72 / 100
Bitcoin:
$ 68.414
BTC Dominance:
% 54.1
Market Cap:
$2.48 T

BlackRock’s Bitcoin ETF Approaches 200K BTC

Blackrock

BlackRock’s spot fund saw an addition of nearly 5,000 bitcoins on Friday, bringing its total holdings to 195,985 tokens.

In less than two months since its inception, the BlackRock iShares Bitcoin ETF (IBIT) has accumulated more bitcoin (BTC) than MicroStrategy (MSTR).

According to the latest disclosure from the fund, IBIT held 195,985 bitcoin as of Friday, following another day of substantial inflows. Meanwhile, recent public statements from MicroStrategy indicate that the company held 193,000 tokens as of Feb. 26.

It’s plausible that MicroStrategy has augmented its total holdings since then, given that the company recently announced a $700 million capital raise aimed at purchasing more bitcoin.

Since the launch of spot ETFs on Jan. 11, BlackRock’s IBIT has consistently added hundreds of millions of dollars worth of bitcoin daily, solidifying its position as the largest among the new spot products (excluding the Grayscale Bitcoin Trust, which was converted from a closed-end fund).

Following IBIT, Grayscale’s GBTC holds the next spot, having shed more than 200,000 bitcoin since the inception of spot products but still retaining approximately 400,000 tokens.

The significant demand for the new spot ETFs remains the driving force behind bitcoin’s price surge of over 60% this year. The cryptocurrency breached $70,000 for the first time ever on Friday morning, reaching a new all-time high of $70,136, according to data from CoinDesk Indices. At the time of writing, bitcoin was trading just below the $70,000 mark.


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