BlackRock Spot Bitcoin ETF Bought 200,000 Units in Two Months

Maximum Among New Spot Products

The world's largest asset management company, BlackRock's spot Bitcoin exchange-traded fund (ETF) has purchased approximately 200,000 Bitcoins within two months of its launch.

Cryptocurrency specialized media CoinDesk reported on the 10th (local time) that BlackRock's spot Bitcoin ETF, iShares Bitcoin ETF (IBIT), held 195,985 Bitcoins as of the 7th.

IBIT bought about 200,000 Bitcoins during the two months since it started trading after receiving approval from the U.S. Securities and Exchange Commission (SEC) in January. CoinDesk stated that it has added hundreds of millions of dollars worth of Bitcoin daily since its launch, establishing itself as the largest among new spot products.

This amount exceeds that of MicroStrategy, known as the world's largest Bitcoin holding company. MicroStrategy disclosed on the 26th of last month that it held 193,000 Bitcoins.

However, it is not known whether MicroStrategy has purchased additional Bitcoins since then. CoinDesk noted that since MicroStrategy recently raised $700 million to buy Bitcoin, there is a possibility that its Bitcoin holdings will increase further.

Among spot ETFs, except for Grayscale's GBTC which has a somewhat different nature, IBIT holds the largest amount of Bitcoin. Unlike other ETFs, Grayscale's GBTC converted its Bitcoin fund (GBTC) managed by itself into an ETF. According to CoinDesk, GBTC sold about 200,000 Bitcoins but still holds 400,000.

CoinDesk analyzed that the recent surge in Bitcoin prices is due to demand from such spot Bitcoin ETFs. Bitcoin's price has surged more than 60% this year. On the 7th, it traded at $70,136, surpassing $70,000 for the first time in history.