Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<ul>
 <li>BlackRock’s ETF holds approx 243,126 BTC, valued at $15.48 billion, with daily inflows averaging $274 million.</li>
 <li>Grayscale holds an estimated 350,252 BTC, worth $22.04 billion, with daily outflows averaging $277 million.</li>
</ul>
BlackRock’s spot Bitcoin ETF is poised to <a href="https://thenewscrypto.com/blackrocks-bitcoin-etf-dominates-market-with-record-inflows/" target="_blank" rel="noopener noreferrer nofollow">overtake</a> the Grayscale Bitcoin Trust (GBTC) in terms of Bitcoin holdings within the next few weeks. As of March 22, BlackRock’s ETF holds approximately 243,126 Bitcoin, valued at $15.48 billion, with a steady daily inflow of around $274 million.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="507" height="455" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-161.png" alt="" class="wp-image-94544" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-161.png 507w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-161-300x269.png 300w" sizes="(max-width: 507px) 100vw, 507px">
 <figcaption class="wp-element-caption">iShares Bitcoin Trust Data (Source: <a href="https://www.blackrock.com/us/financial-professionals/products/333011/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>)
 </figcaption>
 </figure>
</div>
On the other hand, Grayscale’s GBTC currently holds an estimated 350,252 BTC, worth $22.04 billion, but has been experiencing <a href="https://thenewscrypto.com/grayscales-gbtc-outflows-slow-analysts-caution-on-further-decline/" target="_blank" rel="noopener noreferrer nofollow">daily outflows</a> averaging $277 million. If current trends persist, BlackRock is expected to surpass Grayscale’s holdings by mid-April, potentially accelerating if BlackRock’s inflows revert to higher levels seen in previous weeks.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="649" height="394" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-162.png" alt="" class="wp-image-94545" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-162.png 649w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-162-300x182.png 300w" sizes="(max-width: 649px) 100vw, 649px">
 <figcaption class="wp-element-caption">Grayscale Bitcoin Trust Data (Source: <a href="https://etfs.grayscale.com/gbtc" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>)
 </figcaption>
 </figure>
</div>
This impending shift underscores BlackRock’s growing influence in cryptocurrency and its status as a key player in institutional Bitcoin investment. Notably, as of March 10, BlackRock’s ETF had already surpassed <a href="https://thenewscrypto.com/blackrocks-bitcoin-etf-surpasses-microstrategys-holdings/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy’s holdings</a>, further signaling institutional adoption of Bitcoin.
MicroStrategy, known for its bullish stance on Bitcoin. Currently holds 214,246 BTC, having augmented its portfolio by an additional 9,000 BTC on March 19. However, If BlackRock surpasses Grayscale, it will stick to its position as the largest institutional holder of Bitcoin globally.
Further, discussions abound regarding the potential impact of this transition on Bitcoin’s price, particularly given the substantial outflows from GBTC. Bitcoin’s current price stands at $67,255, with a market cap of $1.32 trillion. The price of BTC surges over 4.46% in the last 24 hours following a week of decline.

Will BlackRock’s Bitcoin ETF Ever Overtake Grayscale’s Holdings?

TheNewsCrypto

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