The BlackRock iShares Bitcoin Trust (IBIT) has acquired over $1 billion in Bitcoin this month, bringing the BTC portfolio of the ETF to over $21 billion.
In a post on X today, Thomas Fahrer, co-founder of ETF tracking platform Heyapollo, called attention to this latest record. The report highlighted that BlackRock’s IBIT shares attracted a new investment of $103 million on Thursday, equivalent to 1,622 BTC tokens.
JUST IN: Blackrock has purchased over $1B worth of #Bitcoin this month – Including $107M Today.
That's 18,600 #Bitcoin
This is a total acceleration of inflows 🚀 pic.twitter.com/nPptlIyEvX
— Thomas | heyapollo.com (@thomas_fahrer) July 18, 2024
BlackRock ETF Flow for July Surpasses $1B
The Thursday figure is slightly lower than the BTC inflow on the previous day and significantly less than the 4,100 BTC inflow on Tuesday. So far this month, BlackRock’s ETF has experienced zero inflow only twice.
Notably, only the ETFs of BlackRock, Fidelity, and VanEck saw positive inflows on Thursday. Others, including WisdomTree, Ark Invest, and Valkyrie, recorded zero inflows for July 18. Meanwhile, Grayscale’s ETF GBTC saw an outflow of over $22 million.
As a result of BlackRock’s $100 million-plus influx, its ETF has now accumulated 18,600 Bitcoin tokens this month. This is equivalent to a staggering $1.23 billion in new investments, calculated based on Bitcoin’s current value of $65,300.
Amid the significant capital influx into the Bitcoin market via BlackRock ETF, market participants ponder why the market has yet to explode.
Fahrer pointed out that the market is just recovering from the German government’s $2.9 billion Bitcoin sale. Besides, the defunct Japanese exchange Mt. Gox is repaying clients about $9 billion in BTC this month.
Germany sold 50,000 #Bitcoin earlier this month.
— Thomas | heyapollo.com (@thomas_fahrer) July 19, 2024
BlackRock Now Holding $21B In Bitcoin
Notably, BlackRock’s ETF has pulled ahead of its competitors, with its $1.23 billion in July inflows nearly doubling the $655.2 million accumulated by its closest rival, Fidelity.
In contrast, the Grayscale Bitcoin Trust (GBTC) has experienced significant outflows, with $199.7 million drained so far this month. Moreover, the fund has seen more days of negative flows than positive flows.
On a broader scale, BlackRock now holds 325,457 BTC tokens estimated to be worth over $21.25 billion per Bitcoin’s prevailing value. This figure makes the asset manager the largest holder of Bitcoin among U.S. ETF issuers.
On the other hand, Grayscale’s holdings have decreased substantially, now standing at 271,886 BTC, valued at around $17.7 billion. Fidelity follows, holding 178,591 BTC worth approximately $11.66 billion.
Interestingly, Grayscale held a considerable 619,000 BTC tokens in January when spot ETFs were launched. Unfortunately, its Bitcoin spot ETF has experienced continued daily outflows, with a staggering $18 billion drained to date.
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