BlackRock’s BTC Holdings Surpasses MicroStrategy Amid $2 Bln Net Inflows This Week

BlackRock’s iShares Bitcoin Trust (IBIT) surpassed MicroStrategy’s Bitcoin (BTC) holdings with a net inflow $2.07 billion in the week. Moreover, the milestone comes amidst a robust total weekly net inflow of Spot Bitcoin ETFs, which stands at $2.23 billion.

BlackRock Eclipses MicroStrategy BTC Holdings

As the week drew to a close on Friday, March 8, Spot Bitcoin ETFs recorded a net inflow of $223 million, which indicated a substantial decrease from Thursday’s figure. The inflows were led by BlackRock’s IBIT with a substantial inflow of $336.3 million, equivalent to over 4,900 BTC.

Hence, this influx propelled BlackRock’s total Bitcoin holdings to over 196,000 BTC, surpassing MicroStrategy’s holdings of 193,000 BTC. The update is notable since MicroStrategy is the largest institutional investor in Bitcoin. Moreover, the significant milestone underscored the BlackRock Bitcoin ETF’s robust growth as a dominant force in the BTC market.

Further, the Assets Under Management (AUM) of BlackRock’s IBIT has soared to nearly $13.5 billion currently. Whilst, the value of MSTR’s Bitcoin holdings stand at around $13.25 billion according to current market trends. As of Thursday, March 7, BlackRock’s IBIT boasted a BTC stack of 191,132 BTC, valued at $12.8 billion at the time.

Also Read: Bitcoin ETF Issuers Hold 175K BTC Despite Grayscale’s Robust Outflow

Spot Bitcoin ETF Inflows Top $2.2 Billion

The week began with a flurry of activity on Monday, March 4, as Bitcoin ETF inflows regained momentum after a brief lull. Notably, Fidelity and BlackRock spearheaded the charge, with each recording over $400 million in inflows, contributing to a staggering total of $588 million. However, Grayscale Bitcoin Trust (GBTC) experienced net outflows amounting to $368 million, highlighting a divergence in investor sentiment between ETFs and traditional trusts.

The following day, Tuesday, March 5, marked a historic milestone for the U.S. Spot Bitcoin ETF, as it witnessed an unprecedented surge in inflows. Provisional data by Farside UK revealed a monumental influx of approximately $662.5 million, showcasing robust investor confidence in the ETF. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC stole the spotlight, collectively amassing over $900 million in inflows, further solidifying institutional support for digital assets.

Despite a slight dip in inflows on Wednesday, March 6, with the U.S. Spot Bitcoin ETF registering $332.4 million, Fidelity continued to shine with a notable surge in investments, signaling sustained interest in Bitcoin among institutional players. However, Grayscale’s persistent outflows continued to dampen overall sentiment, underscoring the shifting dynamics within the market.

Thursday, March 7, witnessed a historic milestone for Fidelity’s FBTC Spot Bitcoin ETF, as it recorded record daily inflows of $473.4 million. This remarkable achievement, nearly double that of BlackRock’s IBIT ETF, highlighted Fidelity’s growing influence in the digital asset space. The total Bitcoin ETF net inflow for the day reached $472.6 million, reflecting the escalating institutional appetite for exposure to Bitcoin. Whilst, the total weekly inflow was $2.23 billion.

Also Read: Bitcoin ETF Issuers Hold 175K BTC Despite Grayscale’s Robust Outflow