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BlackRock's Bitcoin ETF Holds 105,280 BTC, iShares Bitcoin Trust (IBIT) Sees Remarkable Growth

BlackRock's Crypto ETF Reaches 105,280 BTC Under Management The cryptocurrency exchange-traded fund (ETF) managed by BlackRock now holds 105,280 BTC, marking a significant milestone for the iShares Bitcoin Trust (IBIT). With this achievement, IBIT becomes the first crypto fund, excluding Grayscale Investments' converted investment product, to reach this level of Bitcoin holdings. Impressive Growth Since Launch in January 2024 Since receiving approval from the U.S. Securities and Exchange Commission on January 10, 2024, BlackRock's spot Bitcoin ETF has experienced a remarkable growth of 3700%. The quantity of Bitcoin under its management has surged from 2,621 BTC to 105,280 BTC. Analysts Note Growing Assets in Crypto Funds Analysts observe that BlackRock's product is among nine crypto funds witnessing asset growth. Fidelity Investments' spot Bitcoin ETF is also nearing the 100,000 BTC mark, currently managing 83,925 BTC. The only investment product experiencing active fund outflows is Grayscale's GBTC. On its first trading day, GBTC held 619,220 BTC, but this figure decreased by 25% to 463,475 BTC within 22 working days. Record Inflows Reported on February 13, 2024 On February 13, 2024, net capital inflows into spot Bitcoin ETFs reached a record high of $631.23 million. This marks a new historical peak since the commencement of trading in this position. According to Soso Value, positive trends have persisted for 13 consecutive days, with GBTC being the only spot Bitcoin ETF experiencing outflows. BlackRock's Growing Interest in Bitcoin It's worth mentioning that BlackRock has signaled its readiness to increase its Bitcoin holdings in its portfolio, indicating a growing institutional interest in cryptocurrencies. Read the full article