Nearly 40 days after the BlackRock-owned iShares Bitcoin Trust (IBIT) began trading, the spot Bitcoin exchange-traded fund (ETF) has managed to surpass MicroStrategy’s holdings of the largest cryptocurrency on the market.

O profile HODL15Capital shared results from BlackRock’s Bitcoin ETF on March 8 at its weekly close. This was the third-best week for the ETF, which saw 31,588 bitcoins added to holdings in BlackRock’s iShares Bitcoin Trust.

In total, BlackRock’s ETF product, IBIT, leads the largest cryptocurrency’s holdings with 196,088 BTC added to the pool. With this, the iShares Bitcoin Trust positioned itself above MicroStrategy in the ranking of the Bitcoin rich. With its last purchase of 3,000 BTC on February 26, MicroStrategy now holds 193,000 BTC.

It is worth remembering that, in a move that captured the attention of enthusiasts and financial analysts around the globe, Bitcoin (BTC) scaled new heights, surpassing the impressive US$70,000 mark. The largest cryptocurrency on the market set another new all-time high on March 8, reaching a market value of up to US$70,199 on the Coinbase exchange. At the time of publication, the price of Bitcoin was quoted at US$68,312.66, up 1.0% in the last 24 hours.

BlackRock has plans to buy Bitcoin ETFs for its Global Allocation Fund

Financial giant BlackRock has plans to acquire Bitcoin (BTC)-based spot exchange-traded funds (ETFs) for its Global Allocation Fund. The company had its registration updated with the United States Securities and Exchange Commission (SEC).

In a document dated March 7, BlackRock highlighted its intentions and expectations that are sought with the request.

“The Fund may acquire shares in exchange-traded products (ETPs) that seek to generally reflect the price performance of bitcoin by directly holding bitcoin (Bitcoin ETPs), including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock.”

In the document, the financial giant also highlighted that it will only invest in spot Bitcoin ETFs that are listed on national stock exchanges.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.


Leave a Reply