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MainNewsBlackRock Bi...

BlackRock Bitcoin ETF (IBIT) Scoops A Massive 56,793 Bitcoins in May


by Bhushan Akolkar
for Coinspeaker
BlackRock Bitcoin ETF (IBIT) Scoops A Massive 56,793 Bitcoins in May

BlackRock Bitcoin ETF (IBIT) has stormed the cryptocurrency market this month in May, by buying a massive 56,7983 Bitcoins, registering the second-highest monthly inflows at $5.95 billion. The IBIT share price has also surged 12% over the past month, reflecting these inflows.

With these inflows, the BlackRock iShares Bitcoin Trust has accumulated a total of 660,842 Bitcoin, with a total of $69.6 billion in assets under management as of the current BTC price.

For reference, back in April, BlackRock’s IBIT had net inflows of 28,011 Bitcoins, which showed that the inflows doubled in the month of May. After 31 days of consecutive inflows since mid-April, BlackRock’s IBIT clocked more than $410 million worth of outflows.

Commenting on this stellar growth, Nate Geraci, President of the ETF Store said: “iShares Bitcoin ETF no outflows streak comes to an end…$400+mil exits fund. What a run over past 30+ days though. IBIT now pushing $70bil in assets < 17 months since launch”.

Along with BlackRock’s IBIT, the inflows across all US Bitcoin ETF issuers remained healthy from mid-April, as the Bitcoin price recovered from lows under $65,000 on “Liberation Day” to hit an all-time high of over $111,000.

Bitcoin ETFs Face Competition From Public Traded Companies in BTC Accumulation

Publicly traded companies are emerging as dominant players in Bitcoin accumulation, surpassing spot ETFs in BTC acquisitions over the past three quarters, according to data shared by ecoinometrics.

Leading the charge here is Michael Saylor’s Strategy (MSTR), the largest corporate Bitcoin holder. However, a growing number of smaller public companies are now adopting similar strategies. Japan’s Metaplanets, Semler Scientific and other are some of the emerging firms that have increased their Bitcoin Treasury sizeably over the past few months.

Unlike the often volatile flows associated with ETFs, corporate treasury acquisitions are characterized by their consistency and resilience. These companies maintain a disciplined approach, acquiring Bitcoin without being influenced by price fluctuations.

Will BTC Price Drive Inflows Going Ahead?

Following the all-time highs of $111K, BTC price has seen a pullback and is currently trading at $103,507 as bearish sentiment grips the market. Similarly, the flow trajectory into Bitcoin ETFs has also reversed, showing that the institutional capital for fresh investments is waning. Unless bulls strike back, the demand for ETF products is likely to stay subdued.

The post BlackRock Bitcoin ETF (IBIT) Scoops A Massive 56,793 Bitcoins in May appeared first on Coinspeaker.

Read the article at Coinspeaker

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MainNewsBlackRock Bi...

BlackRock Bitcoin ETF (IBIT) Scoops A Massive 56,793 Bitcoins in May


by Bhushan Akolkar
for Coinspeaker
BlackRock Bitcoin ETF (IBIT) Scoops A Massive 56,793 Bitcoins in May

BlackRock Bitcoin ETF (IBIT) has stormed the cryptocurrency market this month in May, by buying a massive 56,7983 Bitcoins, registering the second-highest monthly inflows at $5.95 billion. The IBIT share price has also surged 12% over the past month, reflecting these inflows.

With these inflows, the BlackRock iShares Bitcoin Trust has accumulated a total of 660,842 Bitcoin, with a total of $69.6 billion in assets under management as of the current BTC price.

For reference, back in April, BlackRock’s IBIT had net inflows of 28,011 Bitcoins, which showed that the inflows doubled in the month of May. After 31 days of consecutive inflows since mid-April, BlackRock’s IBIT clocked more than $410 million worth of outflows.

Commenting on this stellar growth, Nate Geraci, President of the ETF Store said: “iShares Bitcoin ETF no outflows streak comes to an end…$400+mil exits fund. What a run over past 30+ days though. IBIT now pushing $70bil in assets < 17 months since launch”.

Along with BlackRock’s IBIT, the inflows across all US Bitcoin ETF issuers remained healthy from mid-April, as the Bitcoin price recovered from lows under $65,000 on “Liberation Day” to hit an all-time high of over $111,000.

Bitcoin ETFs Face Competition From Public Traded Companies in BTC Accumulation

Publicly traded companies are emerging as dominant players in Bitcoin accumulation, surpassing spot ETFs in BTC acquisitions over the past three quarters, according to data shared by ecoinometrics.

Leading the charge here is Michael Saylor’s Strategy (MSTR), the largest corporate Bitcoin holder. However, a growing number of smaller public companies are now adopting similar strategies. Japan’s Metaplanets, Semler Scientific and other are some of the emerging firms that have increased their Bitcoin Treasury sizeably over the past few months.

Unlike the often volatile flows associated with ETFs, corporate treasury acquisitions are characterized by their consistency and resilience. These companies maintain a disciplined approach, acquiring Bitcoin without being influenced by price fluctuations.

Will BTC Price Drive Inflows Going Ahead?

Following the all-time highs of $111K, BTC price has seen a pullback and is currently trading at $103,507 as bearish sentiment grips the market. Similarly, the flow trajectory into Bitcoin ETFs has also reversed, showing that the institutional capital for fresh investments is waning. Unless bulls strike back, the demand for ETF products is likely to stay subdued.

The post BlackRock Bitcoin ETF (IBIT) Scoops A Massive 56,793 Bitcoins in May appeared first on Coinspeaker.

Read the article at Coinspeaker

Read More

Bitcoin Price Eyes New Gains — Is the Next Leg Higher Starting?

Bitcoin Price Eyes New Gains — Is the Next Leg Higher Starting?

Bitcoin price started a fresh decline and tested the $103,200 zone. BTC is now consol...
Bitcoin Dips Set the Stage for a Massive Surge

Bitcoin Dips Set the Stage for a Massive Surge

Justin Bennett foresees a potential Bitcoin surge post-correction. Bitcoin may find s...