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BlackRock’s Bitcoin ETF nears 200,000 BTC, surpassing Michael Saylor’s microstrategy
In less than two months of existence, the BlackRock iShares Bitcoin ETF (IBIT) has accumulated more bitcoin {{BTC}} than MicroStrategy (MSTR).
Depending on the fund latest disclosure, IBIT held 195,985 bitcoins on Friday after another day of large inflows. Meanwhile, MicroStrategy’s most recent public filings show that as of February 26, the company held 193,000 tokens.
It’s possible that MicroStrategy has added to that total since then, as the company noted earlier this week. assessed a capital increase of $700 million with the intention of using the funds to purchase more bitcoins.
Since the launch of spot ETFs on January 11, BlackRock’s IBIT has often added hundreds of millions of dollars of bitcoin daily, establishing itself as the largest of the new spot products (with the exception of Grayscale Bitcoin Trust, which was converted from a closed fund).
Next in line for IBIT would be Grayscale’s GBTC, which has lost over 200,000 bitcoins since spot products opened, but still holds around 400,000 tokens.
Massive demand for new spot ETFs is the main reason for Bitcoin’s over 60% price rise this year. The cryptocurrency surpassed $70,000 for the first time on Friday morning, eventually hitting a new all-time high of $70,136, data showed. from CoinDesk indices. At press time, bitcoin was trading just below the $70,000 mark.