"Bitcoin price has maintained its position above $122,000 on Thursday, bolstered by BlackRock's IBIT spot Bitcoin ETF reaching a significant milestone of over 800,000 BTC in assets under management (AUM). The world's largest cryptocurrency has shown resilience following its new all-time high of $126,199 earlier this week, supported by strong institutional inflows and dovish signals from the Federal Reserve. BlackRock's IBIT, which launched in January 2024, has accumulated approximately 802,257 BTC, valued at nearly $100 billion, representing about 3.8% of Bitcoin's total supply."
"This rapid increase has been fueled by substantial net inflows, with the ETF receiving 3,510 BTC yesterday, pushing its total holdings above 800,000 BTC. The surge in institutional interest has been particularly evident in the broader ETF market, with U.S. spot Bitcoin ETFs collectively attracting over $60 billion in cumulative inflows since their debut. Recent data shows an impressive eight-day streak of positive inflows totalling more than $5.7 billion, with IBIT alone accounting for $4.1 billion of that sum."
Bitcoin traded above $122,000, supported by strong institutional inflows and dovish signals from the Federal Reserve. BlackRock's IBIT spot Bitcoin ETF has amassed approximately 802,257 BTC, worth nearly $100 billion and about 3.8% of Bitcoin's supply. The ETF received 3,510 BTC yesterday, surpassing 800,000 BTC in holdings. U.S. spot Bitcoin ETFs have drawn over $60 billion cumulatively, including an eight-day inflow streak totalling more than $5.7 billion, with IBIT accounting for $4.1 billion. Corporate treasury adoption is accelerating, exemplified by DDC Enterprise's $124 million equity round and IBIT now holding more Bitcoin than MicroStrategy.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]