BlackRock ETF scoops up 3.25% of Bitcoin supply as ‘new money’ dries up

BlackRock’s ETF is nearing the $70 billion mark as Bitcoin transactions continue to be dominated by large investors.

Update June 20, 1:49 pm UTC: This article has been updated to include quotes from Brickken analyst Enmanuel Cardozo.

BlackRock’s spot Bitcoin exchange-traded fund (ETF) is nearing the $70 billion mark in assets under management, signaling growing interest from institutional investors even as retail inflows appear to be slowing.

BlackRock, the world’s largest asset manager, has acquired over $69.7 billion worth of Bitcoin (BTC) through its iShares Bitcoin Trust (IBIT) ETF, representing over 3.25% of the total BTC supply.

Read more