The world's largest asset management company dominates the Spot Bitcoin ETF market share. Will BTC soon increase in price to $100K thanks to continuous cash flow from TradFi?
At the end of the trading session on May 28, BlackRock's Spot Bitcoin ETF (IBIT) marked a very meaningful milestone when it surpassed GBTC Grayscale fund for the first time to become the fund holding the largest amount of Bitcoin today.
BlackRock is the world's largest asset manager with assets under management (AUM) worth more than $10,000 billion. Since the beginning of 2024, BlackRock is increasingly showing its influence on the Crypto market.
BlackRock's IBIT fund led with an inflow of 102 million USD on May 28, in contrast to Grayscale's GBTC fund which recorded a net withdrawal of 105.2 million USD. Summary of the trading session, recording net cash flow into Spot BTC ETF funds of 45 million USD, marking a series of 11 consecutive days with inflows!
With the continuous flow of money pouring in from TradFi, along with positive news and supportive moves from the US Government, it is highly likely that Bitcoin will continuously break its peak in the coming months.
