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The competition in the bitcoin spot ETF market is mainly dominated by BlackRock’s products. The fund recently reached its goal of managing 110,000 BTC. Considering that the company has entered the stock market trading for the second month, this is a surprising number.
According to Farside’s data, as of Thursday this week, the amount of cryptocurrency reached $5.174 billion. In this way, iShares Bitcoin Trust (IBIT) is in the leading position in the largest cryptocurrency exclusive product sub-market.
As expected, the management of this financial company is very excited about this mark that is expected to become bigger. The company’s CEO Larry Fink considers himself a firm believer in the future of cryptocurrency. One aspect of this ETF competition that deserves to be emphasized is that the source of income seems to have not shaken.
In this sense, from January 11th to February 2nd, the entry amount was $1.457 billion. Since then, the global amount has increased to the current level.
Bitcoin halving: unveiling the mystery of myth and reality Although the competition among ETF investors is mainly dominated by BlackRock, its competitor Fidelity also has a considerable weight. In this sense, it can be said that this is a two-horse race, with the first place leading the second place by several heads. However, both are very different from others.
Therefore, the cumulative value of bitcoin managed by Fidelity Bitcoin ETF is equivalent to $3.535 billion. Since then, the third place (Ark Invest) recently successfully overcame the $1 billion barrier, and the rest are below this level.
In order to clearly understand the driving situation, it is worth noting that on February 15 this year, all bitcoin ETFs experienced an inflow of $477.4 million. Among them, a total of $330.9 million flowed into BlackRock ETF. At the same time, a total of about $177 million left Grayscale, which is still a suppression of scarcity, which has a comprehensive impact on the price of tokens.
Combining all these data, it can be said with certainty that this exchange-traded fund market related to bitcoin will remain hot. Therefore, these products will become the main tools for triggering a broad cryptocurrency market bull market.
Sentiment: Positive
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