BlackRock’s IBIT Bitcoin ETF Surpasses 200,000 BTC in Assets
BlackRock’s IBIT spot bitcoin exchange-traded fund (ETF) has reached over 200,000 BTC in assets under management (AUM) within just two months of trading. The newborn nine spot bitcoin ETFs, excluding Grayscale’s converted GBTC fund, now hold a total of more than 420,000 BTC. BlackRock’s IBIT currently has around 204,000 BTC in assets, worth approximately $14.7 billion at current prices. Fidelity’s FBTC is in second place with over 128,000 BTC, followed by Ark Invest 21Shares’ ARKB with nearly 38,000 BTC.
MicroStrategy Reclaims Lead in Bitcoin Holdings
Last week, IBIT surpassed MicroStrategy’s bitcoin holdings of 193,000 BTC. However, MicroStrategy announced that it had made a further purchase of 12,000 BTC, bringing its total holdings to 205,000 BTC. While MicroStrategy briefly took the lead again, IBIT is expected to exceed its holdings today.
Bitwise’s BITB Becomes Fifth U.S. Spot Bitcoin ETF with Over $2 Billion in Assets
Bitwise’s BITB has become the fifth U.S. spot bitcoin ETF to hold more than $2 billion in assets. With over $11 billion in outflows since converting to an ETF, GBTC currently holds less AUM than the newborn nine combined. In comparison, Bitwise’s BITB has seen strong growth and now holds over $2 billion in assets.
Inflows and Trading Volume Remain Strong for Spot Bitcoin ETFs
- Net inflows for U.S. spot bitcoin ETFs reached $505.5 million on Monday, despite outflows from GBTC.
- IBIT led daily inflows with $562.9 million, followed by FBTC with $215.5 million and BRRR with $118.8 million.
- Trading volume for spot bitcoin ETFs generated $6.91 billion on Monday, the fourth-largest daily volume to date.
- IBIT had the highest trading volume at $3.05 billion, followed by GBTC and FBTC with $1.59 billion and $1.42 billion, respectively.
Cumulative Trading Volume for Spot Bitcoin ETFs Reaches $113.5 Billion
The cumulative trading volume for all spot bitcoin ETFs now stands at $113.5 billion. BlackRock and Fidelity’s ETFs have gained a combined market share of over 60%, surpassing Grayscale’s initial dominance in the market.
Bitcoin Price Update
Bitcoin is currently trading at $72,031, representing a 7.5% increase over the past week.
Hot Take: BlackRock’s IBIT Dominates Bitcoin ETF Market
BlackRock’s IBIT has quickly become the leading spot bitcoin ETF, surpassing 200,000 BTC in assets within two months of trading. With strong inflows and trading volume, IBIT has gained significant market share and is likely to continue its growth trajectory. Meanwhile, MicroStrategy remains a key player in the bitcoin space, reclaiming the lead in bitcoin holdings with its recent purchase of 12,000 BTC. As the competition intensifies among spot bitcoin ETFs, it will be interesting to see how they continue to evolve and attract investors.
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