{"id":71561,"date":"2024-02-16T06:43:59","date_gmt":"2024-02-16T10:43:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=71561"},"modified":"2024-02-16T06:44:03","modified_gmt":"2024-02-16T10:44:03","slug":"blackrocks-bitcoin-holdings-exceed-6-billion","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blackrocks-bitcoin-holdings-exceed-6-billion\/","title":{"rendered":"BlackRock’s Bitcoin Holdings Exceed $6 Billion"},"content":{"rendered":"\n

BlackRock's Bitcoin holdings surpassed $6 billion on February 15, while spot Bitcoin ETFs<\/a> saw a net inflow of $477 million.<\/p>\n\n\n\n

\"BlackRock's
BlackRock's Bitcoin Holdings Exceed $6 Billion<\/figcaption><\/figure>\n\n\n\n

Spot Bitcoin ETFs received an additional substantial inflow of over $477 million, marking the fifteenth consecutive inflow as supply continues to fall short of demand. The holdings of BlackRock's iShares Bitcoin ETF\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> surpassed $6 billion, and the second-largest day for Bitwise Bitcoin ETF since the spot Bitcoin ETF debut.<\/p>\n\n\n\n

BlackRock Leads Spot Bitcoin ETF Records Net Inflow<\/h2>\n\n\n\n

The most recent data from BitMEX Research<\/use><\/svg><\/span><\/a> indicates that spot Bitcoin ETFs experienced a net inflow of $477.4 million on Thursday. Since the most recent inflow, Bitcoin ETFs have amassed a seven-day net inflow of more than 61,800 BTC.<\/p>\n\n\n\n

Thursday, the iShares Bitcoin ETF (IBIT), which BlackRock manages, witnessed an extraordinary inflow of $339.9 million. Bitwise Bitcoin ETF (BITB) follows with an inflow of $120.2 million. Nonetheless, inflows into the Fidelity Bitcoin ETF (FBTC) slowed to $97.4 million on Thursday.<\/p>\n\n\n\n

BlackRock has been significantly outperforming its rivals, with total inflows exceeding $5.17 billion and BTC holdings exceeding $6 billion, totaling 115,991.3.<\/p>\n\n\n\n

\"\"
Bitcoin ETF Inflow. Source: BitMEX Research<\/figcaption><\/figure>\n\n\n\n

An increase from Wednesday's $131.2 million outflow, GBTC experienced a $174.6 million outflow. Consequently, the net inflow for spot Bitcoin ETFs was $652 million, excluding GBTC.<\/p>\n\n\n\n

Origins of BlackRock and Fidelity Wise Presently, Bitcoin ETFs possess BTCs worth more than $10.3 billion. As a result of the ETFs purchasing 10,000 Bitcoin per day over the standard equilibrium, the price increases. However, supply continues to be significantly less than demand.<\/p>\n\n\n\n

Increased Bitcoin Demand Concerns<\/h3>\n\n\n\n

A K33 Research Vetle Lunde senior analyst reported that the net U.S. spot ETF flow surpassed 100,000 BTC on Friday. This corresponds to two-thirds of the yearly decline in Bitcoin issuance after the forthcoming halving.<\/p>\n\n\n\n

\"\"
Bitcoin High Demand Concerns<\/figcaption><\/figure>\n\n\n\n


A Bitcoin maximalist, Samson Mow, expressed concern regarding the excessive demand for spot Bitcoin ETFs. “At the current price of Bitcoin, this level of demand is not sustainable,” he stated.<\/p>\n\n\n\n

The demand exceeds the supply by a factor of ten, with additional supply coming from other sources. In a recent interview, MicroStrategy's Michael Saylor highlighted the tenfold disparity between supply and demand.<\/p>\n\n\n\n

The price of Bitcoin has decreased by 1% over the last twenty-four hours and is currently $51,787. The respective 24-hour minimum and high prices are $51,371 and $52,820, respectively. Moreover, trading volume has declined by thirteen percent over the past twenty-four hours, suggesting a decline in investor interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock’s Bitcoin holdings surpassed $6 billion on February 15, while spot Bitcoin ETFs saw a net inflow of $477 million. Spot Bitcoin ETFs received an additional substantial inflow of over $477 million, marking the fifteenth consecutive inflow as supply continues to fall short of demand. The holdings of BlackRock’s iShares Bitcoin ETF surpassed $6 billion, […]<\/p>\n","protected":false},"author":53,"featured_media":67116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[5371,6748,5970,15281],"class_list":["post-71561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-2","tag-blackrock-2","tag-etfs-2","tag-spot-bitcoin-etf-4"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/12\/CV.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=71561"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/67116"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=71561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=71561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=71561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}