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U.Today - As it became known following the update from Lookonchain, in the last 24 hours, spot Bitcoin exchange-traded funds have added a total of 428 BTC, which is equal to $36.84 million.
While this is not a figure worth paying attention to, what was more worthy of interest is that BlackRock, or more correctly its Spot Bitcoin ETF under the ticker IBIT, did not see any inflows into it.
To be fair, there were no outflows in IBIT either, but the fact that BlackRock’s audience skipped this latest round of flows speaks eloquently about the sentiment of market participants right now.
IBIT currently holds 570,582.4137 BTC, which equates to approximately $48.29 billion. This is about 50% of all Bitcoin held by ETF issuers, with Fidelity’s FBTC coming in a distant second place with only a fraction of the total holdings.
On the bright side, BlackRock is not completely out of the market. As crypto enthusiasts saw last week and this week, the financial mastodon is acquiring cryptocurrency, albeit by a small margin compared to its records.
Whether this is a short-lived trend or whether the last 24 hours without inflows to IBIT is the beginning of a new trend remains to be seen. For now, this is another sign that things are not so obviously bullish for the cryptocurrency.
Meanwhile, with BlackRock taking a break from the Bitcoin ETF market, its place has been taken by Bitwise’s BITB with 142 BTC worth around $12.07 million and Invesco Galaxy’s BTCO. The latter acquired 295 BTC during the reporting period, which is equivalent to about $25 million at today’s price.