BlackRock’s BTC Assets Outperform MicroStrategy with $2 Billion in Net Inflows This Week
BlackRock’s iShares Bitcoin Trust (IBIT) outpaced MicroStrategy’s Bitcoin (BTC) holdings with net inflows of $2.07 billion for the week. Moreover, this milestone comes during a strong period, with total weekly net inflows for Spot Bitcoin ETFs standing at $2.23 billion.
BlackRock Keeps MicroStrategy BTC Holdings in Shadow
As the week ended on Friday, March 8, Spot Bitcoin ETFs recorded net inflows of $223 million; This marks a significant decrease from Thursday’s figure. Inflows were led by BlackRock’s IBIT with a significant inflow of $336.3 million, equivalent to over 4,900 BTC.
Therefore, this influx brought BlackRock’s total Bitcoin holdings to over 196,000 BTC, surpassing MicroStrategy’s 193,000 BTC holdings. The update is notable given that MicroStrategy is the largest institutional investor in Bitcoin. Additionally, this important milestone underlined the strong growth of the BlackRock Bitcoin ETF as a dominant force in the BTC market.
Additionally, BlackRock’s IBIT’s Assets Under Management (AUM) has now increased to approximately $13.5 billion. The value of MSTR’s Bitcoin assets is around 13.25 billion dollars according to current market trends. As of Thursday, March 7, BlackRock’s IBIT had a BTC stack of 191,132 BTC, valued at $12.8 billion at the time.
Also Read: Bitcoin ETF Issuers Hold 175K BTC Despite Grayscale’s Strong Breakout
Spot Bitcoin ETF Inflows Maximum $2.2 Trillion
The week started off on a high note on Monday, March 4, as Bitcoin ETF inflows regained momentum after a brief lull. Fidelity and BlackRock led the effort, recording inflows of over $400 million each, contributing a staggering $588 million total. However, Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $368 million, underscoring the difference in investor sentiment between ETFs and traditional trusts.
The next day, Tuesday, March 5, marked a historic turning point for the US Spot Bitcoin ETF and witnessed an unprecedented surge in inflows. Provisional data compiled by Farside UK revealed a massive inflow of around $662.5 million, suggesting investor confidence in the ETF remains strong. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC have garnered attention, collectively collecting over $900 million in inflows, further solidifying institutional support for digital assets.
Despite a slight decline in inflows on Wednesday, March 6, with the US Spot Bitcoin ETF recording $332.4 million, Fidelity continued to shine with a significant increase in investments, signaling continued interest in Bitcoin among institutional players. However, Grayscale’s persistent outbursts continued to negatively impact overall sentiment and underlined the changing dynamics in the market.
Thursday, March 7 saw a historic milestone for Fidelity’s FBTC Spot Bitcoin ETF, recording record daily inflows of $473.4 million. This remarkable success, nearly double that of BlackRock’s IBIT ETF, highlighted Fidelity’s growing influence in the digital asset space. Total Bitcoin ETF net inflows for the day reached $472.6 million, reflecting growing institutional appetite for Bitcoin. The total weekly inflow was 2.23 billion dollars.
Also Read: Bitcoin ETF Issuers Hold 175K BTC Despite Grayscale’s Strong Breakout
✓ Share:
parofix consists of an experienced team of local content writers and editors who work around the clock to cover the news globally and present the news as a fact rather than an opinion. parofix writers and reporters contributed to this article.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#BlackRocks #BTC #Assets #Outperform #MicroStrategy #Billion #Net #Inflows #Week