BlackRock's spot Bitcoin ETF has finally surpassed its competitor from Grayscale in terms of assets under management. This moment was approaching as#BTCwas actively growing at#BlackRockand#Grayscalewas actively selling.
Now#Blackrockhas 288,671 BTC under management,#Grayscalehas 287,454 BTC.
According to Farside Investors, yesterday the net inflow into spot Bitcoin ETFs was $45 million. Positive dynamics in inflows has continued since May 13.
At the same time, BlackRock yesterday bought for $102.5 million, and Grayscale sold for $105.2 million. Grayscale has the highest volume in recent weeks.#Grayscalecontinue to sell, although they have slowed down and sometimes buy. But sales days like yesterday make it clear that the process is not over. Since January, they have sold $17.746 billion worth of #BTC. But Blackrock alone bought $16.456 billion during this time. And then there is Fidelity ($8.747 billion) and such players with a couple of billions as#Bitwiseand #ArkInvest.
Bitcoin News Research, together with 21st_capital, conducted an analysis of the TOP 20 institutional investors in Bitcoin ETFs. And they came to the conclusion that only the TOP 3 players such as Millennium Management, Horizon Kinetics and Susquehanna International Group bought shares of spot Bitcoin ETFs for more than $4 billion.
Meanwhile, BlackRock's income and bond funds bought shares of its own spot Bitcoin ETF, according to documents filed on May 28 with the US SEC. BlackRock's Strategic Income Fund (BSIIX) purchased iShares Bitcoin Trust (IBIT) for $3.56 million, and its Strategic Global Bond Fund (MAWIX) made a $485,000 purchase. The total value of the funds is $37.4 and $776.4 million, respectively. That is, the share of#BITin the first is almost 10%, not small.
Bernstein analysts believe that crypto ETFs will receive an influx of more than $100 billion in funds over the next 2 years. Both the Bitcoin and Ethereum ETF markets will grow to a total of $450 billion.#Bernsteinexpects $90,000 BTC by the end of 2024 and $150,000 as the maximum in this cycle.
