In this crypto news content, Bloomberg's ETF analyst, Eric Balchunas, commented on BlackRock's spot Bitcoin ETF, IBIT, stating that it is unlikely to surpass the SPDR S&P 500 ETF Trust or Vanguard S&P 500 ETF in terms of asset value. Balchunas mentioned that while IBIT reached $50 billion in Bitcoin assets in its first year, it would require more adoption and a break in correlation with the stock market to gain ground on its competitors. Balchunas advised against holding high expectations for IBIT. Additionally, Strategy (formerly MicroStrategy) announced that it did not sell any class A common stock or purchase any more Bitcoin, and as of February 17, it holds around 478,740 Bitcoins purchased for approximately $31.1 billion. The company recently rebranded to emphasize its focus on the Bitcoin strategy.



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