Investors keep accumulating spot Bitcoin ETF shares as combined daily inflows broke another record at $631.3 million.
BlackRock's iShares Bitcoin Trust (IBIT), a spot Bitcoin exchange-traded fund (ETF), has surpassed 100,000 BTC in managed assets, as per official Bitcoin ETF Tracker data on Feb. 13. This marks IBIT as the first spot Bitcoin ETF in the United States to reach the 100,000 BTC milestone within just 22 days of trading, surpassing nine other spot Bitcoin ETFs, excluding Grayscale Bitcoin Trust ETF (GBTC).
This significant milestone underscores BlackRock's aggressive BTC purchasing since the launch of its spot Bitcoin ETF on Jan. 11, 2024, alongside 10 other issuers.
Since its introduction in January, BlackRock has substantially grown the iShares Bitcoin Trust's holdings by over 3,700%, with assets under management soaring from 2,621 BTC on Jan. 11 to 100,000 BTC on Feb. 13.
The iShares Bitcoin ETF is among nine spot Bitcoin ETFs actively expanding their holdings since their inception, including the Fidelity Wise Origin Bitcoin Fund (FBTC), which held 83,925 BTC as of Feb. 13. In contrast, the Grayscale Bitcoin Trust ETF (GBTC) has been the sole spot Bitcoin ETF actively reducing BTC holdings post-launch. By Feb. 13, GBTC's managed assets dropped by 25%, from 619,220 BTC to 463,475 BTC.
Also, Check Out The Bitcoin ETF Tracker :https://markets.coinpedia.org/bitcoin-etf/
Despite attempts to obtain a comment from BlackRock regarding IBIT's milestone, there has been no response at the time of publication. This achievement coincides with another record for spot Bitcoin ETFs, with combined daily inflows reaching $631.3 million, including $493 million to the iShares Bitcoin ETF alone.
Some online crypto observers speculate that BlackRock may have faced challenges keeping up with the massive inflows into the iShares Bitcoin ETF recently, with one user noting that OTC sellers to BlackRock ran out of coins, prompting BlackRock to purchase BTC from Coinbase.
This news comes amidst significant growth in Bitcoin's price, surpassing $51,000 for the first time since November 2021 and reclaiming its $1 trillion market capitalization for the second time in history on Feb. 14. At the time of writing, Bitcoin is trading at $51,383, reflecting a more than 20% increase over the past 30 days. Amidst the ongoing rally, the Crypto Fear & Greed Index has surged to levels not seen since Bitcoin's all-time high of $69,000 in mid-November 2021.