Blackrock, the largest asset manager globally, has now amassed a portfolio of over 300,000 bitcoins, following a surge of $217.7 million in positive inflows from all U.S. spot bitcoin exchange-traded funds (ETFs). This latest influx on Thursday marks the 18th day in a row of gains for these bitcoin ETFs.
The momentum of Bitcoin ETFs in the U.S. appears to be unstoppable, with a significant $217.7 million flowing into these funds yesterday. Leading the pack is Blackrock's IBIT fund, which raked in a total of $350 million in inflows on Thursday. While other funds like FBTC and HODL also saw smaller inflows, funds like BRRR, EZBC, and BTCW remained steady with neutral metrics. On the flip side, Grayscale's GBTC experienced outflows of around $37 million, ARK Invest and 21shares' ARKB fund lost nearly $97 million, and Bitwise's BITB saw a modest outflow of $2.9 million during the trading day.
Blackrock's IBIT, now the top ETF in terms of assets under management (AUM), boasts a staggering holding of over 300,000 bitcoins. According to data from June 7, 2024, IBIT's official website discloses a total of 302,539.99 BTC, valued at approximately $215.7 billion based on current exchange rates. Fidelity's FBTC is also inching closer to the 200,000 BTC milestone, with holdings of 173,759.06 BTC, valued at $12.39 billion using today's exchange rates.
After the outflows recorded yesterday, Grayscale's GBTC now retains 285,650.88 BTC, valued at an estimated $20.36 billion, with trades amounting to $1.42 billion throughout the day. As the cryptocurrency market continues to evolve, Blackrock's significant accumulation of bitcoins through its IBIT fund solidifies its position as a major player in the industry. The varying fortunes of other funds, witnessing both inflows and outflows, highlight the dynamic nature of the current market.
What are your thoughts on the 18 consecutive days of inflows and Blackrock's ownership of over 300,000 bitcoins? Feel free to share your opinions on this topic in the comments below.