BlackRock ETF Closing in on Grayscale Market Share Despite Low Inflows
BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), has been establishing a commanding market presence, edging closer to the dominance of Grayscale’s Bitcoin Trust (GBTC), according to data released on April 17.
The Dune data shows that IBIT boasts $19 billion worth of Bitcoin with a current market share of 32.6%, inching closer to GBTC’s 36.8% market share. This report came amid IBIT’s second-lowest daily inflows of $24.9 million since its launch.
IBIT was approved on January 10, and its current market share highlights an impressive growth sequence. Since then, BlackRock ETF Bitcoin holdings have grown by over 10,200%, amassing 272,550 BTC valued at $16.8 billion. The fund needs about $2.2 billion to close down on Grayscale’s holdings.
Blackrock's Bitcoin ETF, IBIT, now holds 272,844 BTC, up 296 from the last trading day
900 BTC are issued per day right now
TOMORROW IS THE HALVING
Supply will drop to 450 Bitcoin per day
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