ETFs
How much does BlackRock hold in its Bitcoin ETF?
Unlike other issuers of spot Bitcoin ETFs that hold a significant percentage stake in their individual ETFs, investment management firm BlackRock holds a mere $5.5 million stake in the iShares Bitcoin Trust (IBIT).
BlackRock is not the main holder of IBIT
According to Julian Fahrer, a known tracker of Bitcoin ETF flows, BlackRock has also filed its 13F. The filing serves as a gauge of institutional interest in Bitcoin ETFs. In this filing, the company revealed its moderate exposure of $5.5 million to its IBIT Bitcoin ETF.
We are far from the enormous stakes that other issuers have in their offers since the green light from the United States Securities and Exchange Commission (SEC). Fahrer pointed out that issuers like VanEck are early holders of their Bitcoin ETF products.
First, he indicated that ARK Invest is also the largest holder of his ETF. However, in a subsequent article on X, Fahrer identified BraceBridge Capital as the new largest holder of ARKB with a stake of approximately $262 million. ARK Invest has a $176 million stake in ARKB while VanEck has an $85 million stake in HODL.
It should be noted that BraceBridge is also the first holder of IBIT with a stake of 86 million dollars.
Given the small size of BlackRock’s IBIT stake, some crypto analysts, including Fahrer, suspect the company may have a hidden stash.
Several organizations are interested in the BlackRock Bitcoin ETF and have shown their support by investing funds in the offering. One of the most recent is BNP Paribas, the second largest European bank. In its 13F filing of May 1, BNP Paribas announced that it had invested $41,684 in the BlackRock Bitcoin ETF by purchasing 1,030 units.
JPMorgan also disclosed its investments in Bitcoin ETFs and its portfolio shows the company holds 11,000 shares of IBIT worth $445,170 and an additional 797 shares worth $32,255. This disclosure came after Wells Fargo revealed its one-time exposure to Bitcoin ETFs, sparking optimism in the market.
One-off Bitcoin ETF releases continue
Meanwhile, outflows from the nine spot Bitcoin ETFs continued to rise, marking a decline in hype. As Coingape reports, US Spot Bitcoin ETF Outflows Jump to $11.3 Million THURSDAY. Additionally, GBTC resumed its trend as the only ETF facing negative flows, with total outflows of $43.4 million.
On the other hand, BlackRock is gradually recovering after recording a notable inflow of $14.2 million, indicating investor confidence in the IBIT ETF. Overall, the price of Bitcoin has not reacted positively to the growth in ETF holdings. At the time of writing, the coin is down 0.43% at $60,981.64.
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