"BlackRock Bitcoin ETF holds 3.25% of total supply... Assets under management reach $69.7 billion"
Summary
- It has been reported that the assets under management (AUM) of BlackRock's Bitcoin exchange-traded fund (ETF), IBIT, have reached $69.7 billion.
- BlackRock has announced that it now holds 3.25% of the total Bitcoin supply.
- An analyst mentioned that despite continued demand for ETFs, selling by miners and profit-taking is partly suppressing price increases.
As institutional investors continue to increase their influence on Bitcoin (BTC), it is being analyzed that BlackRock's Bitcoin exchange-traded fund (ETF) is growing its presence in the market.
On the 20th (local time), cryptocurrency-focused media outlet Cointelegraph reported via X (formerly Twitter) that "the assets under management (AUM) of BlackRock's Bitcoin spot ETF, IBIT, have reached $69.7 billion. BlackRock now holds 3.25% of the total Bitcoin supply."
Meanwhile, Iliya Kalchev, an analyst at Nexo, stated, "While demand for ETFs remains steady, selling pressure from miners and profit-taking is partially offsetting this," adding, "For Bitcoin prices to find a breakout, a new catalyst or shift in investor sentiment may be required."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
