The rise of Bitcoin ETFs continues at a frantic pace. Through its IBIT fund, BlackRock has just taken over more than 3.25% of the circulating supply of BTC. This strengthens its grip on the market. More details in the paragraphs below!
BlackRock holds 3.25% of bitcoin via its ETF, reinforcing the market’s institutional dominance.
BTC transactions are now dominated by large investors, while the retail influx is waning.
BlackRock boosts ETFs with $69.7 billion in bitcoin
YES! In less than 18 months, BlackRock’s iShares Bitcoin Trust (IBIT) ETF has become a key player in the market. With $69.7 billion in assets under management, it now holds more than half of the US Bitcoin ETF market share. This represents exactly 54.7%.
According to data, this figure alone represents 3.25% of all bitcoin in circulation. This illustrates a strategic accumulation by institutional investors.
BlackRock’s fund thus ranks 23rd globally among ETFs, across all sectors. This performance is supported by massive institutional flows. We refer to the $388 million of BTC that flowed into American ETFs in a single day. This marks eight consecutive sessions of positive inflows. Proof of growing interest in index funds backed by digital assets!
ETF: a market dominated by whales, small players are abandoning ship
While Bitcoin ETFs record record volumes, the market structure is evolving. According to Glassnode, 89% of transactions on the Bitcoin network exceed $100,000. This proves that major investors now dictate the rules of the game. The average volume per transaction reaches $36,200, and small holders are becoming rare.
Another fact revealed by CryptoQuant: the cohort of short-term holders has gone from 5.3 to 4.5 million BTC in less than a month. This drop of 800,000 BTC highlights a slowdown in retail activity.
If this trend continues, the next major support could be around $92,000. This corresponds to the realized price level of traders.
The market thus seems to be entering an era where ETFs and institutions take over from individuals. If a new catalyst emerges, the rise in demand could push bitcoin into a new sustainable bull market.
FOLLOW BE MASTER BUY SMART 🚀 TO FIND OUT MORE $$$$$ 🤩 BE MASTER BUY SMART 🤩
