Blackrock, the world’s largest asset manager, now holds more than 300,000 bitcoins following $217.7 million in positive inflows from all of the U.S. spot bitcoin exchange-traded funds (ETFs). Thursday’s inflows marked the 18th consecutive day of gains for the bitcoin ETFs.
ETFs See 18 Days of Gains: Blackrock’s Bitcoin Holdings Surpass 300,000
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Bitcoin ETF Gains Continue
Spot bitcoin ETFs in the U.S. have been thriving recently, with funds attracting $217.7 million in positive inflows yesterday. Blackrock’s IBIT fund led the way, accumulating $350 million in total inflows on Thursday. Meanwhile, other funds saw smaller inflows, including FBTC and HODL, while BRRR, EZBC, and BTCW showed neutral metrics. Grayscale’s GBTC experienced around $37 million in outflows, Ark Invest and 21shares’ fund ARKB lost nearly $97 million, and Bitwise’s BITB had a modest outflow of $2.9 million during the trading sessions.
Blackrock’s IBIT, now the largest ETF by assets under management (AUM), holds over 300,000 bitcoins. As of June 7, 2024, IBIT’s official website reports 302,539.99 BTC in holdings, valued at approximately $215.7 billion based on current exchange rates. Fidelity’s FBTC is nearing the 200,000 BTC mark, with current holdings of 173,759.06 BTC, valued at $12.39 billion using today’s exchange rates.
Following the outflows yesterday, Grayscale’s GBTC now holds 285,650.88 BTC, valued at an estimated $20.36 billion. About $1.42 billion in trades were recorded throughout the day. As the cryptocurrency landscape continues to evolve, Blackrock’s substantial acquisition of bitcoins through its IBIT fund positions it as a formidable player in the market. The contrasting fortunes of other funds, with inflows and outflows varying widely, underscore the dynamics of the current market.
What do you think about the 18 days of consecutive inflows and Blackrock topping more than 300,000 bitcoins? Share your thoughts and opinions about this subject in the comments section below.
