BTC ETF from BlackRock has already exceeded the ceiling of 100,000 BTC in management. This is another record in recent days, as the total daily inflow of funds has now reached USD 631.3 million. The optimistic mood is perfectly illustrated by the greenery flooding the cryptocurrency market and the surge of bitcoin, whose price is approaching USD 52,000.
BlackRock's BTC ETF manages 100,000 BTC after just 22 days!
If someone would have said 4 years ago that BlackRock, led by Larry Fink, would manage 100,000 BTC, they would certainly have been considered crazy. Larry Fink was known for his critical approach not only to Bitcoin, but to the entire cryptocurrency industry. Today, the situation is completely different, and BlackRock's BTC ETF manages 100,000 BTC in just 22 days from the start of trading. The craze for spot BTC ETF funds shows that Satoshi Nakamoto's cryptocurrency has entered the consciousness of investors for good, as a digital equivalent of gold, which Larry Fink and others talked about.
It is worth adding that the BTC ETF from BlackRock, i.e. iShares Butcoin Trust (IBIT), already holds 105,280 BTC. This is indicated by BlackRock's official data from February 13. IBIT is one of nine ETF funds based on physical bitcoin that has been actively increasing its holdings since its launch in early January. This group also includes Fidelity Wise Origin Bitcoin Fund (FBTC), which holds 83,925 BTC (data as of February 13).
How will the BTC ETF craze affect the cryptocurrency market?
The BTC rate exceeded USD 51,000, gaining as much as 20% since last week. Bitcoin's surge translated into the entire cryptocurrency market, a perfect example of which is ETH exceeding the ceiling of USD 2,700 or Solana reaching the level of USD 115. Satoshi Nakamoto's cryptocurrency is therefore slowly approaching the historical ATH, and the bitcoin halving is still ahead of us.
This cyclical event has regularly brought about a revival in the market, which is why many analysts and commentators claim that the bitcoin price may reach USD 100,000 or even higher. In the background, the BTC ETF craze is constantly taking place, which is effectively heating up the market, creating a classic example of FOMO among investors.
