Less than two months after its launch, Blackstone’s iShares Bitcoin ETF (IBIT) has surpassed MicroStrategy in terms of Bitcoin holdings.
The latest disclosures from the funds show that Blackstone’s IBIT held 195,985 bitcoins as of March 8, while MicroStrategy held 193,000 bitcoins as of February 26. This comes after IBIT again significantly increased its holdings by nearly 5,000 bitcoins last Friday.
IBIT has been a leader in the U.S. spot Bitcoin ETF market since its launch on January 11 this year.
Blackstone’s reputation as an industry giant has played a key role in the massive daily inflows into IBIT, sometimes amounting to hundreds of millions of dollars.
Currently, the only U.S. spot Bitcoin ETF that holds more Bitcoin than IBIT is the recently converted Grayscale Bitcoin Trust, which still holds around 400,000 Bitcoin despite more than 200,000 Bitcoin leaving the fund since January 11.
Besides the huge inflows, Blackstone’s IBIT also witnessed significant daily trading volumes.
In a March 8 X post, Bloomberg ETF analyst Eric Balshonas said IBIT saw about $2.2 billion in trading volume within the first two hours of trading on Friday.
On two consecutive days in late February, the fund's trading activity exceeded $1 billion.
On March 4, according to a filing with the U.S. Securities and Exchange Commission (SEC), Blackstone Group hopes to add a spot Bitcoin ETF to its Global Allocation Fund (MALOX).
MALOX manages approximately $17.8 billion in assets, and the inclusion of a spot Bitcoin ETF in such funds would be another major step towards the broader mainstream adoption of Bitcoin ETFs and Bitcoin itself.
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