BlackRock Bitcoin ETF (BTC) Surpasses Competitors with Remarkable Achievement

  • BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has outperformed its traditional finance (Tradfi) peers in terms of corporate holder count.
  • The ETF has attracted over 250 corporate holders since its launch in January, a significant achievement compared to other ETFs launched in the same period.
  • Bracebridge Capital is now the largest holder of the BlackRock Bitcoin ETF.

BlackRock’s Bitcoin ETF has recorded an impressive milestone, surpassing its Tradfi peers in corporate holder count, signaling growing investor confidence in Bitcoin as an asset class.

BlackRock Bitcoin ETF Dominates

Since its inception on January 11, the iShares Bitcoin Trust (IBIT) from BlackRock has attracted more than 250 corporate holders. This achievement is not only a testament to the ETF’s impressive holdings but also to the number of investors it has attracted within the first quarter of its launch.

Bracebridge Capital Emerges as Largest Holder

Among the 250 holders of the BlackRock Bitcoin ETF, Bracebridge Capital holds the largest stake. The Boston-based investment firm’s holdings amount to $100,638,773, according to its latest filing with the SEC. This figure surpasses the earlier reported figure lodged by Rubric Capital, which holds 1,722,497 units of IBIT shares, valued at over $69.7 million.

Implications for the BTC ETF Competition

Compared to other Bitcoin ETFs launched around the same time, BlackRock’s iShares Bitcoin Trust stands out. Fidelity Wise Origin Bitcoin (FBTC) has 136 holders, while Bitwise Bitcoin (BITB) ETF has attracted 60 holders. Ark 21Shares Bitcoin ETF follows closely behind with 42 corporate holders. The data underscores the growing investor appetite for Bitcoin exposure through ETFs. As more institutional and retail investors seek exposure to Bitcoin, the competition among Bitcoin ETF providers is expected to intensify.

Conclusion

BlackRock’s Bitcoin ETF has solidified its position as a frontrunner in the Bitcoin ETF space, recording a higher number of corporate holders than its Tradfi peers launched in the same week. This achievement signals growing investor confidence in Bitcoin as an asset class and highlights the increasing mainstream acceptance and adoption of Bitcoin as a legitimate investment asset.

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