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Changpeng Zhao, who co-founded the world’s largest crypto exchange Binance, and was its CEO until late 2023, also known as CZ, has taken to his account on the X platform to comment on the progress made by Bitcoin ETFs.
He named one particular spot Bitcoin exchange-traded fund run by the BlackRock giant. CZ commented on a tweet which revealed how much BTC BlackRock holds at the moment. That is a mammoth amount of Bitcoin worth $54,256,865,292, according to the data provided by Arkham Intelligence.
Alex DovbnyaCZ called BlackRock’s ETF IBIT the “fastest-growing ETF in history,” adding that it is only a year old (launched in the middle of January 2024). “Just starting,” the crypto influencer stated.
According to a recent tweet by the @lookonchain analytics X account, today, BlackRock’s IBIT experienced inflows of $38.9 million (432 BTC). The adjusted data from this source names a slightly smaller equivalent of BlackRock’s Bitcoin holdings - $51.57 million.
Yuri MolchanGrayscale Bitcoin Mini Trust saw a slightly smaller inflow of 412 BTC worth $36,452,878. These two the only ETFs with inflows today. The others have faces significant outflows. Fidelity saw zero inflows and so did Ark Invest ETF. Bitwise lost 76 Bitcoins, Invesco Galaxy and Grayscale lost marginal 9 and 8 BTC. The largest outflows hit Valkyre Bitcoin Fund – minus 670 Bitcoins worth $59,306,711.
Dan Burgin
Vladislav Sopov