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BlackRock’s Bitcoin ETF Surpasses 100K BTC

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BlackRock's Bitcoin ETF Surpasses 100K BTC

BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed 100,000 BTC under management, according to official data. The trust became the first spot Bitcoin ETF in the United States to reach this milestone among its peers, excluding the Grayscale Bitcoin Trust ETF (GBTC). BlackRock has experienced remarkable growth in BTC holdings since launching IBIT in January, multiplying its assets by over 3,700%. As of February 13th, IBIT had amassed 105,280 BTC. Another spot Bitcoin ETF, the Fidelity Wise Origin Bitcoin Fund (FBTC), has also been actively growing its holdings and currently holds 83,925 BTC. The only ETF that has been actively selling BTC following the launch is the Grayscale Bitcoin Trust ETF (GBTC), which reduced its holdings to 463,475 BTC from 619,220 BTC. BlackRock has yet to comment on the milestone.

The spot Bitcoin ETFs collectively achieved another record in terms of daily net inflows, reaching $631.3 million. The iShares Bitcoin ETF alone attracted $493 million of these inflows. Some observers have speculated that BlackRock may have struggled to meet the demand for the iShares Bitcoin ETF, with claims that the company had to buy BTC from Coinbase as OTC sellers ran out of coins.

The news coincides with Bitcoin’s recent growth, as it broke the $51,000 mark for the first time since November 2021. On February 14th, Bitcoin reached a market capitalization of $1 trillion for the second time in history. As of writing, Bitcoin is trading at $51,383, exhibiting a 20% increase over the past month. The ongoing rally has also resulted in the Crypto Fear and Greed Index reaching levels not seen since Bitcoin’s all-time high in mid-November 2021.

8 thoughts on “BlackRock’s Bitcoin ETF Surpasses 100K BTC

  1. BlackRock’s Bitcoin ETF is turning the crypto market into a one-horse race. No competition! 🏇🚫

  2. Bitcoin is on fire lately! 🔥 The ongoing rally and the market cap reaching $1 trillion is a testament to its strength. 💪

  3. Bitcoin’s market cap hitting $1 trillion again is proof that it’s here to stay and thrive. This is great news for all Bitcoin investors out there!

  4. Kudos to BlackRock for their outstanding growth in BTC holdings! It’s clear that their iShares Bitcoin Trust is in high demand.

  5. BlackRock’s success is just another example of the rich getting richer. 😡💸

  6. So much for diversification. BlackRock seems to be putting all its eggs in the Bitcoin basket.

  7. BlackRock’s iShares Bitcoin Trust is solidifying its position as a leader in the Bitcoin ETF market. 🌟 Exciting times for investors and enthusiasts alike!

  8. The Grayscale Bitcoin Trust ETF may have reduced its holdings, but BlackRock’s iShares Bitcoin Trust is only going up! Keep pushing the boundaries, BlackRock!

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