Blackrock, the largest asset manager globally, has amassed a staggering 300,000 bitcoins after receiving $217.7 million in positive inflows from U.S. spot bitcoin exchange-traded funds (ETFs). The latest inflows on Thursday marked the 18th straight day of gains for the bitcoin ETFs.
The U.S. spot bitcoin ETFs are experiencing significant growth, with a total of $217.7 million flowing in yesterday. Blackrock's IBIT fund led the pack, raking in $350 million in total inflows on Thursday. Other funds like FBTC and HODL also saw some inflows, while BRRR, EZBC, and BTCW remained neutral. On the flip side, Grayscale's GBTC witnessed outflows of around $37 million, ARK Invest and 21shares' ARKB lost nearly $97 million, and Bitwise's BITB saw a modest outflow of $2.9 million during the trading sessions.
Blackrock's IBIT is now the largest ETF by assets under management (AUM), holding 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 inching closer to 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 yesterday, Grayscale's GBTC now holds 285,650.88 BTC, valued at an estimated $20.36 billion, with around $1.42 billion in trades recorded throughout the day. Blackrock's significant bitcoin acquisition through its IBIT fund solidifies its position as a key player in the market as the cryptocurrency landscape continues to evolve. The varying inflows and outflows of other funds reflect the current market dynamics.
What are your thoughts on the 18 consecutive days of inflows and Blackrock's massive holding of over 300,000 bitcoins? Feel free to share your opinions in the comments section below.