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BlackRock Bitcoin ETF Surpasses Rivals as This Crucial Metric Hits New Record

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Thu, 16/05/2024 - 14:12
BlackRock Bitcoin ETF Surpasses Rivals as This Crucial Metric Hits New Record
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Senior ETF analyst for Bloomberg Eric Balchunas has spread the word about the largest spot Bitcoin ETF – BlackRock’s IBIT – surpassing its rival ETFs not only by the amount of Bitcoin held but also by another important metric. This one has skyrocketed, according to a recent tweet published by Balchunas.

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The analyst’s post reveals that a surprising 414 reported holders in the fund's first 13F season have been reported. This is a “mind boggling” figure for this metric, the analyst admitted, adding that it “blows away [the] record.”

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Balchunas then clarified that even if a newly born ETF gets 20 holders, that is already a big deal very rare.

The analyst provided an infographic to show how far behind some of the other largest spot Bitcoin ETFs stand behind BlackRock. Bitwise’s BITB boasts around 100 reported holders, Fidelity’s FBTC has slightly under 250 and Ark Invest has less than 100.

In the meantime, BlackRock’s ETF keeps seeing zero inflows for the third consecutive day. The other nine spot ETFs have seen positive inflows over the past three days, scooping up $303 million worth of Bitcoin on May 15, according to data shared by the @spotonchain analytics account.

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