BlackRock’s iShares Bitcoin Trust Surpasses MicroStrategy’s BTC Holdings
BlackRock’s iShares Bitcoin Trust (IBIT) has achieved a significant milestone by surpassing MicroStrategy’s Bitcoin (BTC) holdings. In the week ending on March 8, IBIT recorded a net inflow of $2.07 billion, bringing its total Bitcoin holdings to over 196,000 BTC. This surpasses MicroStrategy’s holdings of 193,000 BTC, making BlackRock the largest institutional investor in Bitcoin.
The influx of funds into IBIT has propelled its Assets Under Management (AUM) to nearly $13.5 billion. Meanwhile, MicroStrategy’s Bitcoin holdings are valued at around $13.25 billion based on current market trends. This achievement highlights the robust growth and dominance of BlackRock’s Bitcoin ETF in the BTC market.
Spot Bitcoin ETFs See Weekly Net Inflow of $2.23 Billion
During the week, Spot Bitcoin ETFs experienced a total weekly net inflow of $2.23 billion. On Friday, March 8, these ETFs recorded a net inflow of $223 million, although this figure was lower than the previous day’s inflow. The leading contributor to these inflows was BlackRock’s IBIT, which saw an inflow of $336.3 million, equivalent to over 4,900 BTC.
- This influx has boosted BlackRock’s total Bitcoin holdings to over 196,000 BTC.
- The significant milestone is noteworthy because MicroStrategy has long been considered the largest institutional investor in Bitcoin.
BlackRock’s iShares Bitcoin Trust (IBIT)
BlackRock’s IBIT is a Bitcoin ETF that allows investors to gain exposure to Bitcoin without having to directly hold the cryptocurrency. It is one of the largest and most prominent Bitcoin ETFs in the market, with a growing AUM and significant inflows.
- BlackRock’s IBIT recorded a net inflow of $2.07 billion in the week ending on March 8.
- The ETF now holds over 196,000 BTC, surpassing MicroStrategy’s holdings.
MicroStrategy’s Bitcoin Holdings
MicroStrategy is a business intelligence company that has made headlines for its significant investments in Bitcoin. It holds a substantial amount of Bitcoin as part of its treasury reserve strategy.
- MicroStrategy’s Bitcoin holdings currently stand at 193,000 BTC.
- The value of these holdings is approximately $13.25 billion based on current market trends.
Overview of Spot Bitcoin ETF Inflows
The week began with a surge in Bitcoin ETF inflows on Monday, March 4. Notably, Fidelity and BlackRock were the key contributors, each recording over $400 million in inflows. This resulted in a total inflow of $588 million for the day. However, Grayscale Bitcoin Trust (GBTC) experienced net outflows totaling $368 million, indicating a divergence in investor sentiment between ETFs and traditional trusts.
Tuesday, March 5, witnessed an unprecedented surge in inflows for the U.S. Spot Bitcoin ETF. Provisional data showed an influx of approximately $662.5 million, demonstrating strong investor confidence in the ETF. BlackRock’s IBIT and Fidelity’s FBTC were the top performers, accumulating over $900 million in inflows and further solidifying institutional support for digital assets.
Although there was a slight dip in inflows on Wednesday, March 6, with the U.S. Spot Bitcoin ETF registering $332.4 million, Fidelity continued to attract investments, indicating sustained institutional interest in Bitcoin. However, Grayscale’s outflows persisted, dampening overall sentiment and highlighting changing dynamics in the market.
Thursday, March 7, marked a historic milestone for Fidelity’s FBTC Spot Bitcoin ETF as it recorded record daily inflows of $473.4 million. This achievement, almost double that of BlackRock’s IBIT ETF, showcased Fidelity’s growing influence in the digital asset space. The total net inflow for Bitcoin ETFs on that day reached $472.6 million, reflecting increasing institutional appetite for Bitcoin exposure. The total weekly inflow amounted to $2.23 billion.
Hot Take: BlackRock Takes the Lead in Bitcoin Holdings
BlackRock’s iShares Bitcoin Trust has surpassed MicroStrategy’s BTC holdings, making it the largest institutional investor in Bitcoin. With a net inflow of $2.07 billion in the week ending on March 8, BlackRock’s IBIT now holds over 196,000 BTC.
This achievement highlights the robust growth and dominance of BlackRock’s Bitcoin ETF in the market. Additionally, Spot Bitcoin ETFs saw a total weekly net inflow of $2.23 billion, indicating increasing institutional interest in Bitcoin.
As more institutional investors enter the crypto space and allocate significant funds to Bitcoin, the market is likely to experience further growth and development. The competition between companies like BlackRock and MicroStrategy will continue to shape the landscape and drive innovation in the cryptocurrency industry.
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