BlackRock’s Bitcoin Trust Holdings Reach Record 806,700 BTC Worth $63.7B
BlackRock’s iShares Bitcoin Trust saw holdings climb for a ninth straight day to a record 806,700 BTC valued at $63.7 billion. Meanwhile, spot Bitcoin ETFs have amassed $57.98 billion as exchange outflows hit six-year lows, underscoring sustained institutional demand.
1. Record Inflows Driving Holdings Growth
BlackRock’s iShares Bitcoin Trust posted nine straight days of net inflows, pushing its total holdings to a record 806,700 BTC valued at $63.7 billion. This surge reflects growing appetite for spot Bitcoin exposure via regulated ETF channels.
2. ETF Accumulation and Exchange Outflows
Spot Bitcoin ETFs have collectively acquired $57.98 billion, while exchange outflows reached six-year lows, indicating reduced selling pressure and bolstered institutional accumulation. This dynamic suggests ETFs are absorbing more supply than spot markets generate.
3. Market Headwinds and Price Resistance
Despite strong inflows, the crypto market cap dipped 0.75% to $2.57 trillion as Bitcoin stalled near $79,474 resistance and funds rotated into US equities. This pressure could test ETF inflows if leverage-driven rallies falter at key levels.