BlackRock ETF Amasses 3% of Bitcoin as Eight-Day Inflows Reach $2.4 Billion – Crypto News – Crypto News
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BlackRock ETF Amasses 3% of Bitcoin as Eight-Day Inflows Reach $2.4 Billion BlackRock ETF Amasses 3% of Bitcoin as Eight-Day Inflows Reach $2.4 Billion

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BlackRock ETF Amasses 3% of Bitcoin as Eight-Day Inflows Reach $2.4 Billion – Crypto News

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BlackRock’s iShares Bitcoin Trust stepped up its accumulation this week, adding 5,990 Bitcoin on 17 June, 2,670 Bitcoin on 18 June and a further 2,680 Bitcoin on 19 June, according to fund-flow data

BlackRock’s iShares Bitcoin Trust stepped up its accumulation this week, adding 5,990 Bitcoin on 17 June, 2,670 Bitcoin on 18 June and a further 2,680 Bitcoin on 19 June, according to fund-flow data. The purchases lift the exchange-traded fund’s holdings to about 670,000 Bitcoin—roughly 3% of the cryptocurrency’s circulating supply—and push its assets under management to roughly $74.8 billion. The fund has spent an estimated $1.4 billion on Bitcoin over the past six trading days.

The aggressive buying helped extend the broader market’s streak of positive flows: U.S. spot Bitcoin ETFs recorded eight consecutive days of net inflows through 19 June, pulling in a combined $2.4 billion, The Block reported. On 19 June alone, the products gathered $389.57 million, with BlackRock’s IBIT accounting for $278.93 million and Fidelity’s FBTC attracting $104.38 million, offsetting modest outflows from other issuers.

BlackRock is also accumulating Ethereum, purchasing 6,020 ETH on 18 June and taking its month-to-date buying above $750 million. Even so, analyst data show Ethereum products lag behind their Bitcoin counterparts, with only $19 million of inflows on 19 June and total monthly inflows of about $861 million. Market participants are watching whether BlackRock’s continued activity can close that gap in the weeks ahead.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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