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The Defiant 2025-05-01 20:35:11

BlackRock's Bitcoin ETF IBIT Surpasses 600,000 BTC Holdings With Recent $267M Buy Amid 8-Day Inflow Streak

BlackRock's Bitcoin ETF IBIT Surpasses 600,000 BTC Holdings With Recent $267M Buy Amid 8-Day Inflow Streak

BlackRock's Bitcoin spot ETF, IBIT, has reached a milestone holding of over 600,000 Bitcoin, valued at approximately $56 billion, representing about 2.8% of the total Bitcoin supply. Over the past week, BlackRock accumulated 25,430 Bitcoin worth $2.37 billion, with a single-day purchase on April 29 of 2,280 Bitcoin valued at $216.7 million. Despite an overall net outflow of $56.3 million from Bitcoin spot ETFs on April 30, BlackRock's IBIT was the only fund to record a net inflow that day, buying 2,840 Bitcoin worth $267 million. The ETF has led an eight-day streak of net inflows totaling nearly $3.9 billion since mid-April. Globally, Bitcoin ETFs held a record 1,337,814 Bitcoin worth $128 billion as of April 30, accounting for 6.4% of all Bitcoin that will ever exist, with U.S. ETFs dominating 87% of the market share. Ethereum spot ETFs also saw net inflows, with Fidelity's FETH holding 416,732 Ethereum and recording inflows of 13,988 ETH worth $24.48 million on April 30. The strong institutional demand for Bitcoin ETFs underscores growing momentum for cryptocurrency adoption, with analysts from Standard Chartered valuing Bitcoin as a better hedge than gold. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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