- BlackRock’s iShares Bitcoin Trust (IBIT) surpassed MicroStrategy’s Bitcoin (BTC) holdings in weekly net inflows, reaching $2.07 billion.
- Inflows were heavily driven by BlackRock’s IBIT, surpassing MicroStrategy’s Bitcoin assets with a significant entry of $336.3 million, exceeding 4,900 BTC.
- The week, starting on Monday, saw a regaining of momentum in Bitcoin ETF inflows after a brief pause on March 4th.
As the Bitcoin price reached a new peak at $70,000, BlackRock’s spot Bitcoin ETF surpassed MicroStrategy before the week concluded.
BlackRock Continues to Increase Bitcoin Holdings
BlackRock’s iShares Bitcoin Trust (IBIT) surpassed MicroStrategy’s Bitcoin (BTC) holdings in weekly net inflows, reaching $2.07 billion. Additionally, this milestone coincided with a significant increase of $2.23 billion in total weekly net inflows for Spot Bitcoin ETFs.
By the end of the week on Friday, March 8th, Spot Bitcoin ETFs recorded a net inflow of $223 million, significantly lower than the figure from Thursday. Inflows were heavily driven by BlackRock’s IBIT, surpassing MicroStrategy’s Bitcoin assets with a significant entry of $336.3 million, exceeding 4,900 BTC.
This entry elevated BlackRock’s total Bitcoin holdings above 196,000 BTC, surpassing MicroStrategy’s 193,000 BTC holdings. This notable milestone reflects a significant position for BlackRock Bitcoin ETF as a dominant force in the BTC market. Furthermore, this significant milestone highlights the strong growth of BlackRock’s Bitcoin ETF as a dominant force in the BTC market.
Additionally, BlackRock’s IBIT’s Assets Under Management (AUM) has surpassed $13.5 billion. On the other hand, the value of MSTR’s Bitcoin assets is currently around $13.25 billion according to market trends. As of Thursday, March 7th, BlackRock’s IBIT had a stack of 191,132 BTC valued at $12.8 billion.
Spot Bitcoin ETF Inflows Surpass $2.2 Billion
The week started on Monday, March 4th, with a regaining of momentum in Bitcoin ETF inflows after a brief pause. Fidelity and BlackRock, each recording inflows of over $400 million, became part of a total impressive amount of $588 million. However, Grayscale Bitcoin Trust (GBTC) highlighted a deviation in investor sensitivity between ETFs and traditional trusts by experiencing a net outflow of $368 million.
The following day, Tuesday, March 5th, marked a historic milestone for the US Spot Bitcoin ETF, witnessing an extraordinary influx. According to provisional data provided by Farside UK, there was a massive entry of approximately $662.5 million, indicating strong investor confidence in the ETF. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC, with a total entry of over $900 million, further solidified institutional support for digital assets.
On Wednesday, March 6th, the US Spot Bitcoin ETF recorded a net inflow of $332.4 million, experiencing a slight decrease. However, Fidelity continued to shine with a significant increase in investments, demonstrating ongoing interest in Bitcoin among institutional players. Nevertheless, Grayscale’s ongoing outflows weakened overall sensitivity and highlighted changes in market dynamics.
Thursday, March 7th, witnessed a historic milestone for Fidelity’s FBTC Spot Bitcoin ETF, recording a record daily inflow of $473.4 million. This remarkable achievement nearly doubled BlackRock’s IBIT ETF and reflected the rising institutional appetite for exposure to Bitcoin. The total net entry for Bitcoin ETFs on the day was $472.6 million, reflecting increased institutional appetite for exposure to Bitcoin. The weekly total inflow reached $2.23 billion.
