Bitcoin ETF

Bitcoin

BlackRock

<p><span style="font-weight: 400;">BlackRock’s iShares Bitcoin ETF (IBIT) has surpassed MicroStrategy in terms of Bitcoin holdings in less than two months since its launch.</span></p>
<p><span style="font-weight: 400;">The latest </span><a href="https://www.ishares.com/us/products/333011/ishares-bitcoin-trust" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">disclosure</span></a><span style="font-weight: 400;"> by the fund shows that BlackRock’s IBIT held 195,985 coins as of Mar. 8, compared to the 193,000 BTC held by <a href="https://insidebitcoins.com/news/microstrategy-stock-plunges-after-announcing-issue-of-600-million-in-convertible-senior-notes-to-buy-more-bitcoin" rel="noopener noreferrer nofollow">MicroStrategy</a>&nbsp;as of Feb. 26. This came after IBIT had another huge day on Friday, adding almost 5,000 BTC.</span></p>
<p><span style="font-weight: 400;"><img decoding="async" src="https://www.ledgerinsights.com/wp-content/uploads/2022/08/blackrock-bitcoin.2-810x524.jpg" alt="BlackRock launches bitcoin trust for direct crypto exposure - Ledger Insights - blockchain for enterprise"></span></p>
<h2 id="span-style-font-weight-400-blackrock-bitcoin-etf-leads-the-way-span"><span style="font-weight: 400;">BlackRock Bitcoin ETF Leads The Way</span></h2>
<p><span style="font-weight: 400;">IBIT has led the charge in the U.S. spot Bitcoin ETF market ever since the investment products launched on Jan. 11 this year. </span></p>
<p><span style="font-weight: 400;">BlackRock’s reputation as an industry titan played a key role in IBIT’s large daily inflows, which sometimes soared to hundreds of millions of dollars. </span></p>
<p><span style="font-weight: 400;">The only U.S. spot Bitcoin ETF that holds more BTC than IBIT is the recently-converted Grayscale Bitcoin Trust, which still holds approximately 400,000 BTC despite over 200,000 BTC leaving the fund since Jan .11.</span></p>
<p><span style="font-weight: 400;">In addition to the large inflows, BlackRock’s IBIT has also witnessed substantial daily trading volumes. </span></p>
<p><span style="font-weight: 400;">In a Mar. 8 X post, Bloomberg ETF analyst Eric Balchunas said that IBIT was able to record around $2.2 billion in trading volume within just the first two hours of trading on Friday.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Something is in the water again, the ten bitcoin ETFs have seen a big day's worth of volume in the first two hours, on pace to beat Tuesday's wild $10b day. <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> alone is $2.2b. A billion a day is big boy level, IBIT doing a bil an hour. <a href="https://t.co/ihp8p1LIlO" rel="noopener noreferrer nofollow">pic.twitter.com/ihp8p1LIlO</a></p>
 <p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1766141558179631371?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 8, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">And trading activity for the fund </span><a href="https://insidebitcoins.com/news/blackrock-bitcoin-etf-volumes-top-1-billion-for-a-second-consecutive-day-as-btc-targets-60k" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">topped $1 billion for two consecutive days</span></a><span style="font-weight: 400;"> towards the end of February.&nbsp;</span></p>
<h2 id="span-style-font-weight-400-blackrock-looking-to-add-bitcoin-etfs-to-its-global-allocation-fund-span"><span style="font-weight: 400;">BlackRock Looking To Add Bitcoin ETFs To Its Global Allocation Fund</span></h2>
<p><span style="font-weight: 400;">A Mar. 4 </span><a href="https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/1738078/000119312524057885/d718346d497.htm" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">filing</span></a><span style="font-weight: 400;"> with the U.S. Securities and Exchange Commission (SEC) shows that BlackRock wants to </span><a href="https://insidebitcoins.com/news/blackrock-wants-to-add-spot-bitcoin-etfs-to-its-global-allocation-fund" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">add spot Bitcoin ETFs</span></a><span style="font-weight: 400;"> to its Global Allocation Fund (MALOX).</span></p>
<p><span style="font-weight: 400;">MALOX holds approximately $17.8 billion in assets under management and the inclusion of spot BTC ETFs in such funds would be another massive step towards broader mainstream adoption of Bitcoin ETFs and BTC itself.</span></p>
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BlackRock’s Bitcoin ETF Now Holds More BTC Than MicroStrategy

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