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30/05/24
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BlackRock’s Spot BTC ETF is Now the Largest BTC ETF Worldwide
It has been reported that BlackRock’s IBIT overtook the Grayscale Bitcoin Trust (GBTC) to become the largest ETF tracking Bitcoin prices worldwide. Two days ago, IBIT saw an inflow of $102.5 million in inflows, while GBTC recorded an outflow of $105.2 million, according to Farside Investors’ data.
IBIT’s inflow on the day gave a total of 288,670 BTC held, while GBTC held a total of 287,450 BTC. GBTC held a total of 620k BTC when it was converted to a spot ETF in January, per data from the Apollo Bitcoin Tracker and HODL15Capital.
On May 29, IBIT saw an inflow of $24.6 million in inflows, while GBTC recorded an outflow of $31.1 million. On the same day, Bloomberg’s report noted that IBIT held BTC valued at $19.68B, while GBTC and the Fidelity Wise Origin Bitcoin BTC (FBTC) held $19.65 billion and $11.1 billion, respectively.
“There is a new king in the land of Bitcoin ETFs & its BlackRock,” said HODL15Capital. BTC has traded between $67,101.49 and $68,348.17 over the past 24 hours, according to CoinMarketCap data. At press time, it was trading at $67,583.55, representing a 0.51 percent decline over the past 24 hours.
According to BlackRock’s filings with the SEC in recent times, its income and bond-focused funds bought shares of IBIT in Q1 2024. BlackRock’s Strategic Income Opportunities Fund (BSIIX) bought IBIT valued at $3.56 million, and its Strategic Global Bond Fund (MAWIX) bought IBIT worth $485,000.
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