"BlackRock Bitcoin ETF holds 780,000 BTC… Now the largest custodian, surpassing exchanges"
Summary
- The Bitcoin ETF IBIT from global asset management firm BlackRock has reportedly become the largest holder of Bitcoin, surpassing major exchanges.
- It was stated that market leadership is shifting from exchanges dominated by individual investors to institution-focused financial products.
- Continuous Bitcoin accumulation by institutional investors is deepening the supply shortage and supporting the market with long-term holdings.
The iShares Bitcoin Trust (IBIT), BlackRock's Bitcoin exchange-traded fund (ETF), has surpassed major cryptocurrency exchanges to become the largest Bitcoin holder. There is analysis that market leadership is shifting from exchanges focused on individual investors to institution-centered financial products.
According to DailyCoin, a cryptocurrency media outlet, on the 22nd (local time), on-chain analytics firm CryptoQuant reported, "IBIT has become the largest Bitcoin custodian, with steady inflows after surpassing Coinbase's holdings in May." Currently, IBIT holds about 781,160 BTC, exceeding Coinbase (about 703,110 BTC) and Binance (about 558,070 BTC).
The media noted, "Unlike typical exchange deposits, ETF holdings are essentially removed from market liquidity, so continuous accumulation by institutional investors could intensify supply shortages," and explained, "It is the long-term holdings of institutional investors, rather than individuals, that are driving the market."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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