BlackRock Bitcoin ETF (IBIT) BTC holdings experienced a substantial increase on Friday, surpassing MicroStrategy BTC reserve.
With a net inflow of $2.07 billion during the week, BlackRock’s iShares Bitcoin Trust (IBIT) surpassed Microstrategy’s Bitcoin (BTC) holdings.
Furthermore, this achievement coincides with a substantial weekly net inflow of $2.23 billion in Spot Bitcoin ETFs.
BlackRock Displaces MicroStrategy BTC Holdings
On Friday, March 8, Spot Bitcoin ETFs documented a net inflow of $223 million, signifying a substantial decline compared to Thursday’s figure.
Meanwhile, BlackRock’s IBIT was the primary contributor to the inflows, which totaled $336.3 million, equivalent to over 4,900 BTC.
As a result, BlackRock’s overall Bitcoin holdings surpassed MicroStrategy’s by 193,000 BTC, reaching over 196,000 BTC.
Given that MicroStrategy is the largest institutional investor in Bitcoin, the update is significant.
Furthermore, this momentous achievement emphasized the BlackRock Bitcoin ETF’s remarkable expansion as a prevailing entity in the Bitcoin market.
Moreover, at this time, the Assets Under Management (AUM) of BlackRock’s IBIT has increased to approximately $13.5 billion.
At present, market trends indicate that the worth of MSTR’s Bitcoin holdings is around $13.25 billion.
As of Thursday, March 7, BlackRock’s IBIT possessed a BTC holding of 191,132 BTC, valued at $12.8 billion.
Spot Bitcoin ETF Inflows Top $2.2 Billion
On Monday, March 4, witnessed a surge in Bitcoin ETF inflows following a temporary pause, ushering in the week with a flurry of activity.
Significantly, Fidelity and BlackRock took the lead, each amassing over $400 million in inflows, thereby making a substantial contribution of $588 million.
However, Grayscale Bitcoin Trust (GBTC) encountered a total of $368 million in net outflows, which underscores a disparity in investor sentiment between traditional trusts and exchange-traded funds (ETFs).
Tuesday, March 5, thereafter, saw an unprecedented influx of investors into the U.S. Spot Bitcoin ETF, which constituted a momentous achievement.
According to preliminary data provided by Farside UK, the ETF experienced a significant inflow of around $662.5 million, which serves as evidence of strong investor confidence.
In addition to bolstering institutional support for digital assets, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC garnered significant attention, accumulating a combined inflow of more than $900 million.
Notwithstanding a marginal decline in inflows on Wednesday, March 6, amounting to $332.4 million for the U.S. Spot Bitcoin ETF, Fidelity maintained its prominence through a significant upsurge in investments—indicating enduring institutional interest in Bitcoin.
Nevertheless, the consistent outflows from Grayscale further diminished the overall sentiment, emphasizing the changing dynamics at play in the market.
Fidelity’s FBTC Spot Bitcoin ETF achieved an unprecedented milestone on Thursday, March 7, when it received daily inflows amounting to $473.4 million.
This exceptional accomplishment, which is almost double the size of BlackRock’s IBIT ETF, demonstrated Fidelity’s expanding sway in the digital asset sector.
The day’s cumulative net inflow for Bitcoin ETFs amounted to $472.6 million, indicative of the increasing desire among institutions to gain exposure to Bitcoin.
On the contrary, the weekly inflow amounted to $2.23 billion.
