Blackrock, the largest asset manager globally, has now amassed a staggering 300,000 bitcoins, thanks to a significant $217.7 million influx from all U.S. spot bitcoin exchange-traded funds (ETFs). This marks the 18th day in a row that these bitcoin ETFs have seen gains.
The U.S. spot bitcoin ETFs have been flourishing lately, with a total of $217.7 million pouring in yesterday. Blackrock’s IBIT fund led the pack, attracting a total of $350 million in inflows on Thursday. Other funds like FBTC and HODL also saw positive inflows, while BRRR, EZBC, and BTCW remained stable. On the flip side, Grayscale’s GBTC experienced outflows of around $37 million, ARKB lost nearly $97 million, and BITB had a modest outflow of $2.9 million during the trading session.
Blackrock’s IBIT is now the largest ETF in terms of assets under management, holding over 300,000 bitcoins. As of June 7, 2024, IBIT’s official website reports holdings of 302,539.99 BTC, valued at approximately $215.7 billion based on current exchange rates. Fidelity’s FBTC is also nearing the 200,000 BTC mark, with current holdings of 173,759.06 BTC, valued at $12.39 billion using today’s exchange rates.
After the outflows seen yesterday, Grayscale’s GBTC now holds 285,650.88 BTC, valued at an estimated $20.36 billion, with approximately $1.42 billion in trades recorded throughout the day. With Blackrock’s substantial bitcoin holdings through its IBIT fund, the company solidifies its position as a major player in the market. The varying fortunes of different funds, with inflows and outflows fluctuating, highlight the dynamic nature of the current market.
What are your thoughts on the 18 consecutive days of inflows and Blackrock’s accumulation of over 300,000 bitcoins? Feel free to share your opinions in the comments section below.
