BlackRock’s bitcoin ETF holds 196,065 bitcoins, surpassing MicroStrategy, which has accumulated 193,000 bitcoins to date. Since its launch in January, IBIT has attracted significant attention and trading activity from investors.
BlackRock’s pace of bitcoin accumulation has outstripped MicroStrategy, which began its bitcoin acquisitions in 2020.
Meanwhile, BlackRock’s rapid acquisition highlights the growing demand for spot bitcoin ETFs since their introduction in January. In a recent interview, Michael Sonnenshein, CEO of Grayscale, stated that the ‘pent-up demand’ for these investment products is currently driving market enthusiasm.
– We are seeing huge flows and demand from investors, and that really exceeds the supply of bitcoins coming to market every day, which is really causing the price to rise – said Sonnenshein.
ETF expert Nate Geraci echoed this sentiment, noting that the inflow into nine new spot bitcoin ETFs in the last two months has surpassed the total inflow into all gold ETFs over the past five years. Recent data further confirms the observations of Sonnenshein and Geraci, revealing that the cumulative trading volume for these ETFs has exceeded $100 billion.
This increase in trading activity has spurred bitcoin accumulation, while all ETFs combined hold four percent of the total circulating supply. As a result, the price of bitcoin has surged to a fresh all-time high.
