- BlackRock’s iShares Bitcoin Trust reverses February’s bearish trend, adding $538 million in BTC over three days as market sentiment shifts
- Bitcoin ETFs recover as IBIT dominates with over 50% of U.S. daily trading volume amid renewed inflows
- February’s $4 billion in Bitcoin ETF outflows ends with BlackRock’s $145 million BTC acquisition on March 21
BlackRock, the world’s largest asset manager, overseeing over $11.5 trillion in assets, has just acquired more Bitcoin. According to a report from Arkham Intelligence, Blackrock received $145,000,00 in BTC on March 21st, adding significant weight to its Bitcoin reserves.
BlackRock has made significant strides in the cryptocurrency space, particularly with Bitcoin exchange-traded funds (ETFs). Its iShares Bitcoin Trust (IBIT), launched in January 2024, quickly became the fastest-growing Bitcoin ETF in history, surpassing $50 billion in assets under management (AUM) within its first year.
This positions BlackRock as the dominant player in the Bitcoin ETF market, consistently accounting for over 50% of daily trading volume among U.S. Bitcoin ETFs.
Blackrock’s IBIT Bitcoin ETF Back on The Winning Column
February and most of March weren’t as kind to the Bitcoin ETF industry. Whereas we may have grown accustomed to seeing Spot Bitcoin Funds registering inflows month after month, the growth came at a sudden pause in February, as net outflows dominated the market.
In that period, the collective of Bitcoin ETFs registered 35x times more outflows than inflows, causing over $4 billion to leave the funds. IBIT was also affected by that trend, being unable to register inflows larger than $100 million in a day from February 4th until recently.
IBIT would finally reverse that trend on March 18, when it added $218 million in BTC to its fund. On March 20th the ETF saw another $175 million in inflows, and today’s $145 million adds another layer of momentum to the recovery of Bitcoin ETFs.
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