As a seasoned crypto investor with over a decade of experience in this wild and unpredictable market, I can’t help but feel a mix of awe and amusement at the latest developments. The rapid growth of Bitcoin ETFs, particularly BlackRock’s iShares Bitcoin Trust (IBIT), is nothing short of phenomenal.
The Bitcoin exchange-traded fund managed by BlackRock now holds over 500,000 bitcoins, a sign that more investors are looking to invest in this digital asset.
On December 2nd, the total amount of Bitcoin (BTC) held by the iShares Bitcoin Trust ETF was approximately 500,380 units, which equates to a value of roughly $48 billion based on current market prices.
BlackRock explains that through the ETF, investors can gain exposure to Bitcoin via a more straightforward exchange-traded vehicle (ETV). This eliminates the intricate operational, tax, and custody issues associated with owning Bitcoin outright.
Bitcoin ETFs close in on Satoshi’s BTC holdings
The BlackRock IBIT ETF, introduced recently, is currently the busiest traded spot Bitcoin ETF, managing approximately 2.38% of the overall limited supply of Bitcoin, which totals 21 million units.
According to data from SoSoValue’s ETF tracker, it was found that aside from the Grayscale Bitcoin Trust (GBTC), every other exchange-traded fund (ETF) dealing directly with Bitcoin had seen net increases in their holdings up until December 2nd.
According to data from SoSoValue’s ETF tracker, there has been a steady flow of funds into Bitcoin spot ETFs, except for the Grayscale Bitcoin Trust (GBTC). As a result, the total amount of Bitcoin held by these ETFs is getting close to the approximately 1.1 million BTC that was created by Bitcoin’s pseudonymous founder, Satoshi Nakamoto.
BlackRock ETF’s Bitcoin surpasses MicroStrategy holdings
It’s worth noting that the Bitcoin holdings of the IBIT ETF surpass those of MicroStrategy, traditionally recognized as the largest corporate Bitcoin holder according to BitcoinTreasuries data.
On December 2nd, MicroStrategy disclosed that they had sold approximately 3.7 million shares of their Class A common stock, earning around $1.5 billion. They then utilized this money to acquire an additional 15,400 Bitcoins. This action follows a previous Bitcoin purchase worth $5.4 billion and now brings their total Bitcoin holdings up to 402,100.
Beyond MicroStrategy, MARA Holdings, a cryptocurrency mining company, has also increased its Bitcoins. According to a filing on December 2, the company acquired 6,484 Bitcoins from October 1 to November 30. This purchase cost them approximately $618.3 million, with an average price of around $95,352 per Bitcoin.
According to BitcoinTreasuries data, MARA Holdings is the second-biggest corporate owner of Bitcoins, possessing approximately 34,794 units.
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2024-12-03 17:28