BlackRock's iShares Bitcoin Trust ETF has surpassed MicroStrategy's Bitcoin holdings, accumulating nearly 700,000 BTC worth $75.8 billion. The ETF now generates an estimated $187.2 million in annual fees and commands 55% of the Bitcoin ETF market share. MicroStrategy holds 597,325 BTC valued at $64.8 billion. The corporate Bitcoin landscape continues to evolve with growing institutional adoption.
BlackRock's iShares Bitcoin Trust ETF (IBIT) has achieved a significant milestone, surpassing MicroStrategy's Bitcoin holdings to accumulate nearly 700,000 BTC worth approximately $75.8 billion. This accomplishment marks a substantial shift in corporate Bitcoin ownership and highlights the growing institutional adoption of the digital asset.
The iShares Bitcoin Trust ETF, which has been trading for just 18 months, has attracted $50 billion in net inflows since its inception, making it the most successful ETF introduction to date. IBIT now holds 700,000 BTC and commands 55% of the Bitcoin ETF market share, generating an estimated $187.2 million in annual fees. This rapid accumulation pace has been described as "ridiculous" by Nate Geraci, president of The ETF Store [1].
In contrast, MicroStrategy, led by Executive Chairman Michael Saylor, holds 597,325 BTC valued at $64.8 billion, with an average cost basis of $70,982 per coin. The business intelligence firm pioneered the corporate Bitcoin treasury strategy and maintains $22.6 billion in unrealized profits from its $42.4 billion investment. However, the corporate Bitcoin landscape continues to evolve, with Japanese tech company Metaplanet recently surpassing Coinbase Global Inc.'s (NASDAQ:COIN) holdings with 10,000 BTC, demonstrating growing institutional adoption beyond traditional treasury strategies [2].
The surge in Bitcoin ETFs and their dominance in the market underscores the increasing interest and confidence in the digital asset among institutional investors. This trend is likely to continue as more financial institutions recognize the potential of Bitcoin as a store of value and a hedge against inflation.
References:
[1] https://finance.yahoo.com/news/blackrocks-bitcoin-etf-just-overtook-203151120.html
[2] https://www.tradingnews.com/news/microstrategy-stock-nasdaq-mstr-rides-bitcoin-boom-as-preferred-reveal-yield-dislocation
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