As the Bitcoin ETF market increases, BlackRock leads the way, having acquired 203,754 BTC for investors in less than three months.
According to BlackRock’s official data, the notional value of its iShares Bitcoin ETF (IBIT) was $14.7 billion on March 11. Excluding Grayscale’s converted GBTC ETF, IBIT is the largest Bitcoin (BTC) ETF among the nine new funds approved by the US SEC on January 10.
Fidelity’s FBTC was the closest issuer to BlackRock, with $9.2 billion in assets under management (AUM) according to SoSoValue data. Both issuers are head and shoulders above the competition, having received over $17 billion in cumulative net inflows from eligible investors.
BlackRock may have the greatest Bitcoin stockpile of any new ETF provider, but Michael Saylor’s MicroStrategy, which recently obtained a scoop, has edged ahead of the corporation. The software developer possesses 205,000 Bitcoins.
Meanwhile, IBIT’s first success has fueled interest in more Bitcoin ETFs from the Larry Fink-led Wall Street powerhouse. The asset management firm sought SEC authority to purchase additional spot BTC ETFs and put them in its Global Allocation Fund.
The company has expanded its BTC ETF coverage beyond the United States, to emerging markets in Latin America. BlackRock and Brazil’s B3 stock market issued Depositary Receipts for the iShares Bitcoin Trust ETF.
