BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed MicroStrategy’s Bitcoin (BTC) holdings with net inflows of $2.07 billion in the week. Additionally, this milestone comes amid robust total weekly net inflows into Spot Bitcoin ETFs, which stand at $2.23 billion.

BlackRock overshadows MicroStrategy BTC holdings

As the week came to a close on Friday, March 8, Spot Bitcoin ETFs recorded net inflows of $223 million, marking a significant decline from Thursday’s figure. Inflows were led by BlackRock’s IBIT with a significant inflow of $336.3 million, equivalent to over 4,900 BTC.

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

Furthermore, BlackRock’s IBIT’s Assets Under Management (AUM) has currently increased to almost $13.5 billion. While, the value of MSTR’s Bitcoin holdings stands at around $13.25 billion according to current market trends. As of Thursday, March 7, BlackRock’s IBIT had a BTC pile of 191,132 BTC, valued at $12.8 billion at the time.

Spot Bitcoin ETF inflows top $2.2 billion

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

The next day, Tuesday, March 5, marked a historic milestone for the US Spot Bitcoin ETFs as it saw an unprecedented increase in inflows. Preliminary data from Farside UK revealed monumental inflows of approximately $662.5 million, demonstrating robust investor confidence in the ETF. BlackRock’s iShares Bitcoin Trust and Fidelity’s FBTC stole the spotlight, with more than $900 million in combined inflows, further solidifying institutional support for digital assets.

Despite a slight dip in inflows on Wednesday, March 6, with the US Spot Bitcoin ETF registering $332.4 million, Fidelity continued to shine with a notable increase in investments, indicating continued interest in Bitcoin among institutional players. However, Grayscale’s continued 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 registered record daily inflows of $473.4 million. This remarkable performance, nearly double that of BlackRock’s IBIT ETF, highlighted Fidelity’s growing influence in the digital asset space. Total Bitcoin ETF net inflows for the day reached $472.6 million, reflecting the escalating institutional appetite for Bitcoin exposure. Total weekly inflows were $2.23 billion.


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