Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<div class="intro-text"> 
 BlackRock’s Bitcoin exchange-traded fund (ETF), iShares Bitcoin ETF ($IBIT), has amassed over 222,591.8 BTC tokens in its asset portfolio since its January launch, as per recent <a style="color: #0000ff;" href="https://x.com/BitMEXResearch/status/1768195237371863163?s=20" target="_blank">data published</a> on March 14 by BitMEX Research. 
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According to the data, $IBIT records daily inflows of investments exceeding hundreds of millions of dollars. On Wednesday, March 13, 2024, the fund saw a net inflow of $849 million, contributing to the <a style="color: #0000ff;" href="https://defi-planet.com/2024/03/historic-milestone-u-s-bitcoin-spot-etfs-see-1-billion-net-inflow-in-a-single-day/">overall record net inflow of $1 billion observed across all spot Bitcoin ETFs</a> on the same day. These numbers indicate that the IBIT ETF is only about $12 billion behind the Grayscale Bitcoin Trust Shares (GBTC), which has the largest bitcoin holdings among the newly launched ETFs. 
BlackRock’s $IBIT’s Bitcoin holdings now represent roughly 10% of the total Bitcoin supply available across all crypto exchanges, placing it on par with MicroStrategy’s holdings. However, a key distinction lies in MicroStrategy’s direct ownership of Bitcoin assets, whereas BlackRock manages assets on behalf of its clients. 
MicroStrategy, a US-based business intelligence company, has been actively purchasing Bitcoin since 2020, when it <a style="color: #0000ff;" href="https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-as-Primary-Treasury-Reserve-Asset" target="_blank" rel="noopener">announced</a> it was adopting the token as its primary reserve asset. At the time, the company’s CEO, Michael Saylor, described Bitcoin as a “reliable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.” Recently, the company <a style="color: #0000ff;" href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-offering-of-convertible-senior-notes_03-06-2024" target="_blank" rel="noopener">announced</a> plans to raise over $700 million by selling convertible notes to investors to increase its Bitcoin holdings.&nbsp; 
This massive inflow of Bitcoin assets into the $IBIT indicates the increasing institutional interest in virtual currencies and their perceived value as a hedge against mainstream market unpredictability. Analysts and pundits believe that the continued accumulation of Bitcoin by institutional investors like BlackRock and Fidelity Investments could trigger a parabolic growth of Bitcoin’s price.&nbsp; 
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The post <a rel="nofollow" href="https://defi-planet.com/2024/03/blackrocks-ishares-bitcoin-etf-surpasses-222000-btc-in-holdings/">BlackRock’s iShares Bitcoin ETF Surpasses 222,000 BTC in Holdings</a> appeared first on <a rel="nofollow" href="https://defi-planet.com">DeFi Planet</a>.

BlackRock’s iShares Bitcoin ETF Surpasses 222,000 BTC in Holdings

DeFi Planet

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