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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!
In brief
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.
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
