BlackRock Accelerates Bitcoin Accumulation, Exceeds MicroStrategy Holdings
BlackRock Holds More Bitcoin Than MicroStrategy
BlackRock's Bitcoin accumulation pace surpassed that of MicroStrategy, which began its BTC acquisitions in 2020. The company, led by Michael Saylor, recently rebranded to a Bitcoin development company to reflect its enduring success with the leading digital asset.
Meanwhile, BlackRock's swift acquisition underscores the surging demand for spot Bitcoin ETFs since their introduction in January. In a recent interview, Michael Sonnenshein, CEO of Grayscale, said the 'pent-up demand' for these Bitcoin ETFs is currently driving the market's enthusiasm.
Bitcoin ETFs Holdings
ETF expert Nate Geraci echoed this sentiment, highlighting that the influx into nine new spot Bitcoin ETFs in the past two months exceeds the total inflow into all physical gold ETFs in the past five years.
Recent data further validates Sonnenshein and Geraci's observations, revealing that cumulative trading volume for these ETFs has surpassed $100 billion. This surge in trading activity has fueled the growth of spot Bitcoin ETFs, which now collectively hold 4% of Bitcoin's total circulating supply.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.