Spot Bitcoin ETF from BlackRock accumulated 105,280 BTC. iShares Bitcoin Trust (IBIT) became the first crypto fund to reach this milestone. The only exception is the converted investment product from financial giant Grayscale Investments.
Since the approval of this asset class by the US Securities and Exchange Commission on January 10, 2024, the spot Bitcoin ETF has risen 3,700%. The amount of the first cryptocurrency under his management increased from 2,621 BTC to 105,280 BTC.
Analysts note that BlackRock's product is one of nine crypto funds that are increasing their assets. The spot Bitcoin ETF from Fidelity Investments is also gradually approaching the 100,000 BTC mark. He currently controls 83,925 BTC.
The only investment product that is seeing active withdrawals is GBTC from Grayscale. On the first day of trading, he managed 619,220 BTC. Over 22 business days, this figure decreased by 25% and reached 463,475 BTC.
On February 13, 2024, the net inflow of capital into spot Bitcoin ETFs was $631.23 million. This is a new all-time high since the start of trading for this position.
According to the portal Soso Value, the positive trend continues for 13 days. At the same time, GBTC is the only spot Bitcoin ETF that is in the “red zone” of outflows.
Source: Cryptocurrency
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