BlackRock’s spot Bitcoin exchange-traded fund , the iShares Bitcoin Trust , is slowly approaching the market share of Grayscale’s Bitcoin Trust ETF .
BlackRock’s IBIT recorded the second-lowest daily inflows of $24.9 million on April 17, compared to its lowest day of $20.4 million worth of inflows on April 9, according to Despite the second-lowest daily inflows, IBIT’s current market share of 32.6% is quietly approaching Grayscale’s GBTC market share of 36.8%, which is the largest spot Bitcoin ETF, holding $19 billion worth of Bitcoin (
BlackRock’s ETF is currently holding $16.8 billion worth of Bitcoin, which is $2.2 billion short of GBTC’s holdings.Looking at accumulation patterns, BlackRock’s Bitcoin accumulation has slowed down since its record day on March 13, when IBIT saw $866 million worth of net inflows. However, BlackRock’s Bitcoin ETF holdings surged over 10,200%, from 2,621 BTC at launch, to the current 272,550.
Grayscale’s Bitcoin selling has also been slowing down since March 19, when GBTC saw $607 million worth of outflows, as its fourth-largest day of outflows since inception. In comparison, GBTC outflows stood at $79 million on April 17, according to Dune.Cumulative ETF inflows have been slowing down since March. Last week saw over $199 million worth of net inflows into the ETFs, down from $2.58 billion in the week beginning March 11.
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