BlackRock's Bitcoin Accumulation: IBIT Holdings Soar Past 300,000
CryptoNewsTerminal Staff07 Jun, 2024
BlackRock's Bitcoin Accumulation: IBIT Holdings Soar Past 300,000
BlackRock's iShares Blockchain and Tech ETF (IBIT), launched in October 2022, has accumulated a significant amount of Bitcoin in a short amount of time. The fund's Bitcoin holdings have surpassed 300,000, representing approximately 1.5% of the total Bitcoin supply, according to Nate Geraci, CEO of ETF Store. This substantial accumulation highlights the growing interest in Bitcoin among institutional investors, with BlackRock being one of the world's largest asset managers. The move also underscores the increasing recognition of Bitcoin as a valuable asset class.
