BlackRock’s Bitcoin ETF Gains Ground, Holds 2.8% of BTC Supply

BlackRock’s Bitcoin exchange-traded fund (ETF) has surged to hold a significant position within the cryptocurrency market, capturing nearly 2.8% of the total Bitcoin supply. The substantial growth, fueled by over $643 million in inflows since its launch in January 2024, highlights the growing influence of institutional investors in Bitcoin’s market value. This move has also contributed to a significant surge in Bitcoin prices beyond $90,000. This expansion underlines BlackRock’s position as a leading force in blockchain assets and their expanding footprint in the financial world.