BlackRock’s Bitcoin exchange-traded fund (ETF) currently holds more Bitcoin than MicroStrategy, with 195,985 BTC, surpassing MicroStrategy’s 193,000 BTC hoard.
The ETF’s BTC accumulation since its January introduction indicates that there is a high demand for spot Bitcoin ETFs. This surge in interest has boosted Bitcoin’s price above $70,170, setting a new record high.
In the last two months, newly created Bitcoin spot ETFs with a total asset value of $28 billion have been able to amass 4% of the total circulating quantity of Bitcoin.
The market’s enthusiasm for these ETFs is reflected in trade volumes that have already topped $100 billion. For example, BlackRock’s IBIT, which is not an ETF issuer but a major player in the institutional arena, has already accumulated $13.5 billion in Bitcoin.
MicroStrategy, on the other hand, is well-known for its Bitcoin-centric strategy and has a sizable BTC holding in their corporate treasuries. The company has recently announced plans to raise $600 million in debt to increase its Bitcoin holdings.
The MicroStrategy method is clearly successful, as the stock has gained by 642% in the last year, beating Bitcoin’s gains of 244%. This competitive landscape, combined with increased institutional interest in Bitcoin, demonstrates the cryptocurrencycurrency’s expanding significance in traditional finance.