BlackRock's Bitcoin ETF Surges Towards 200,000 BTC, Surpassing MicroStrategy's Holdings
BlackRock's Bitcoin ETF, IBIT, is swiftly scaling the ranks of cryptocurrency holdings, now boasting nearly 200,000 bitcoins in its arsenal. Surpassing MicroStrategy's stash, which stood at 193,000 tokens as of its last public disclosure in February, IBIT is making waves in the market.
MicroStrategy might not hold the top spot for long, though. With plans for a massive $700 million capital raise aimed at bolstering its bitcoin reserves, the company could quickly regain ground. However, BlackRock's relentless accumulation of bitcoins, often adding hundreds of millions of dollars' worth daily since its launch, signifies its dominance in the burgeoning ETF landscape.
Despite the setback faced by Grayscale's GBTC, shedding over 200,000 bitcoins since the inception of spot products, it remains a formidable player, still clutching around 400,000 tokens. Nevertheless, with IBIT hot on its heels, the crypto market is witnessing a dynamic shift in institutional investment strategies.
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