CandleFocus

Bitcoin bull? BlackRock’s IBIT holdings skyrocket 117%

Investment firm BlackRock has doubled its holdings in US Bitcoin exchange-traded funds (ETFs), reporting a 117% increase in shares as of October 31. Bitcoin and Ether ETFs have seen record inflows following Donald Trump's election win. However, BlackRock's iShares Bitcoin Trust ETF (IBIT) recorded a record outflow of $188.7 million on December 24. Despite this, IBIT remains the largest player in the crypto investment fund market, holding $53.78 billion in net assets as of December 24. Bitcoin ETFs saw significant outflows on December 24, while Ether ETFs saw inflows. Bitcoin's price has dropped by 3% in the last week but still maintains a YTD gain of 125%. Bitcoin ETFs also overtook gold ETFs in AUM for the first time on December 16.

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