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    BlackRocks Bitcoin ETF Nears 200K BTC

    ByMarch 11, 2024, 5:52 AM1 Mins read41 Views
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    BlackRock’s Bitcoin ETF Nears 200K BTC

    BlackRock’s iShares Bitcoin ETF (IBIT) has accumulated more bitcoin than MicroStrategy in less than two months of its existence.

    IBIT held 195,985 bitcoin on Friday, while MicroStrategy held 193,000 tokens as of February 26. MicroStrategy may have added to the total since its $700 million capital raise to purchase more bitcoin.

    Since the launch of spot ETFs on January 11, IBIT has consistently added hundreds of millions of dollars worth of bitcoin daily, making it the largest of the new spot products. Grayscale’s GBTC, which has lost over 200,000 bitcoins since the spot products opened, is next in line for IBIT.

    (with inputs from Shikha Singh)

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