On Monday, December 2, the Bitcoin (BTC) exchange-traded fund (ETF) issued by BlackRock, known as IBIT, surpassed the half-million BTC mark in custody.
This milestone makes it the bitcoin ETF largest and most valued on the United States Stock Market. According to data from K33 Research, BlackRock’s IBIT already accumulates a total of 500,380 BTC.
BlackRock already has half a million BTC. Source: K33 Research.
With this figure, the IBIT surpasses large companies in the sector such as MicroStrategy, which so far accumulates more than 400,000 BTC, as reported by CriptoNoticias. Only Grayscale’s ETF comes close to BlackRock’s, although the gap is significant, since the Grayscale ETF has just 218,200 BTC under management.
The IBIT now controls 3% of the total supply of bitcoinwhich is estimated at approximately 21 million coins. This growth in BTC custody by BlackRock reflects growing institutionalization of digital assets and broader adoption by traditional investors.
BlackRock has demonstrated aggressive expansion in its accumulation of bitcoinhighlighting the growing interest of large investors in cryptocurrencies as a safe haven or diversification asset.
The IBIT has been the most valued bitcoin ETF with the highest capital inflows since its launch, indicating a strong market support towards BTC-based financial products.
Proof of this is that the IBIT, alone, saw net capital inflows in the order of $338 million on December 2. And the total net accumulation of this financial product It is 32 billion dollarsaccording to the data by SosoValue.
The accumulation of half a million BTC by BlackRock is an indicator of the change in attitude of traditional asset managers towards this ecosystem.
Furthermore, BlackRock’s control of 3% of the total bitcoin supply suggests a consolidation of power within the digital currency ecosystem, since the large funds begin to have a significant weight in the marketas has been reported by this medium.
This article was created using artificial intelligence and edited by a human Editor.
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