The volume of the Bitcoin ETF ownership by the BlackRock investment fund is approaching 200,000

Mar 11, 2024
The BlackRock spot fund on Friday bought about 5,000 BTC to its total assets, which as a result amounted to 195,985 coins.

In less than two months of existence, the BlackRock iShares Bitcoin ETF (IBIT) has acquired more BTC than MicroStrategy (MSTR).

According to the latest report from the fund, IBIT held 195,985 BTC on Friday. At the same time, MicroStrategy’s latest public statements show that as of February 26, the company owned 193,000 BTC.

It is possible that MicroStrategy’s assets have also grown after raising $700 million in capital last week to buy BTC.

Since the launch of spot ETFs on January 11, BlackRock’s IBIT product has periodically bought hundreds of millions of dollars worth of Bitcoin on a daily basis. Thus, IBIT has established itself as the largest new spot product, with the exception of Grayscale Bitcoin Trust, which was converted from a closed-end fund.

The huge demand for new spot Bitcoin ETFs is the main reason for the price increase of the main cryptocurrency by more than 60% this year.

At the time of writing this article, the value of BTC is $70 thousand, having reached a new record high on the eve.