Blackrock, the leading asset manager globally, has amassed a staggering over 300,000 bitcoins after receiving a remarkable $217.7 million in positive inflows from all U.S. spot bitcoin exchange-traded funds (ETFs). The influx on Thursday marked the 18th straight day of gains for these bitcoin ETFs.
The surge in popularity of spot bitcoin ETFs in the U.S. is evident, with a total of $217.7 million flowing 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 some positive inflows, while BRRR, EZBC, and BTCW maintained neutral performance. On the flip side, Grayscale’s GBTC experienced outflows of around $37 million, ARK Invest and 21shares’ ARKB fund saw a loss of nearly $97 million, and Bitwise’s BITB had a modest outflow of $2.9 million during the trading day.
Blackrock’s IBIT has now become the largest ETF in terms of assets under management (AUM), holding a whopping over 300,000 bitcoins. As of June 7, 2024, IBIT’s official website reveals holdings of 302,539.99 BTC, valued at approximately $215.7 billion based on current exchange rates. Fidelity’s FBTC is also close to the 200,000 BTC mark, with current holdings of 173,759.06 BTC, valued at $12.39 billion using present exchange rates.
After the outflows recorded yesterday, Grayscale’s GBTC now holds 285,650.88 BTC, valued at an estimated $20.36 billion. Trading activity amounted to around $1.42 billion throughout the day. With the evolving cryptocurrency landscape, Blackrock’s significant acquisition of bitcoins through its IBIT fund establishes it as a major player in the market. The varying fortunes of different funds, with inflows and outflows fluctuating widely, highlight the dynamic nature of the current market.
What are your thoughts on the 18 consecutive days of inflows and Blackrock surpassing the 300,000 bitcoins milestone? Feel free to share your opinions and insights on this topic in the comments below.
