The boom in Bitcoin ETF continues at a frantic pace. Via its Ibit fund, BlackRock has just seized more than 3.25 % of the circulating BTC offer. What strengthen its grip on the market. More details in the following paragraphs!
In short
- Blackrock holds 3.25 % of Bitcoin via Son ETF, strengthening the institutional domination of the market.
- BTC transactions are now dominated by large investors, while the Afflux Retail is running out of steam.
Blackrock dope ETF with $ 69.7 billion in bitcoin
YES ! In less than 18 months, the Blackrock ETHROCOIN TRUST (IBIT) has become a key player in the market. With $ 69.7 billion in management under managementit now holds more than half of the market share of ETF Bitcoin US. This represents very exactly 54.7 %.
According to data, this figure alone represents 3.25 % of all Bitcoin in circulation. This illustrates a strategic accumulation by institutional investors.
The BlackRock Fund therefore rose to the 23rd rank in the world of ETF, all sectors combined. This performance is supported by massive institutional flows. The $ 388 million in BTCs were alluded to in the American ETF in one day. This marks eight consecutive sessions of positive flows. Proof of the growing interest in index funds backed by digital assets!
ETF: a market dominated by whales, the little ones leave the ship
If the ETF Bitcoin records record volumes, the market structure is changing. According to Glassnod89 % of transactions on the Bitcoin network exceed $ 100,000. This proves that large investors now dictate the rules of the game. The average volume per transaction reaches $ 36,200, and the small carriers are rare.
Another fact revealed by cryptocurrency: the cohort of short -term holders increased from 5.3 to 4.5 million BTC in less than a month. This drop of 800,000 BTC underlines a breathlessness of the retail.
If this trend continues, the next major support could be around $ 92,000. This is the level corresponding to the price made of traders.
The market therefore seems to enter an era where ETFs and institutions take over from individuals. If a new catalyst appears, the rise in demand could tip bitcoin in a new sustainable bull market.
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