14:00
3
min at reading ▪
The boom in Bitcoin ETF continues at a furious pace. Through its iBit, Blackrock has just seized more than 3.25 % of BTC circulating offers. What strengthens its grip on the market. More details in the following paragraphs!
In short
- Blackrock holds 3.25 % bitcoin via Son ETF, strengthening institutional market domination.
- BTC transactions are now dominated by large investors, while the Aflux retail comes from steam.
Blackrock Dope ETF with Bitcoin 69.7 billion USD
Yes! In less than 18 months, Blackrock Ethrocoin Trust (Ibit) has become a key player on the market. WITH $ 69.7 billionNow it holds more than half of the market share of ETF Bitcoin USA. This represents very exactly 54.7 %.
According to data, this number represents only 3.25 % of all bitcoins in circulation. This illustrates strategic accumulation of institutional investors.
The Blackrock Fund has therefore increased to 23. This performance is supported by massive institutional flows. $ 388 million in BTCS was disturbed in American ETF in one day. This is the designation Eight consecutive sessions of positive flows. Proof of a growing share in index funds supported by digital asset!
ETF: The market dominated by whales will leave the ship
If ETF bitcoins record volumes, the market structure changes. According to Glassnode, it exceeds 89 % of transactions in a $ 100,000 bitcoin network. This proves that great investors are now dictating the rules of the game. The average volume per transaction is $ 36,200 and small carriers are rare.
Another fact revealed by the cryptocurrency: the cohort of short -term holders increased from 5.3 to 4.5 million BTC in less than a month. This a decrease of 800,000 BTC It underlines the breath rate of retail retail.
If this trend continues, additional main support could be around $ 92,000. This is the level corresponding to the price of traders.
Therefore, the market seems to enter into a time when ETF and institutions take over individuals. If a new catalyst appears, the increase in demand can lean bitcoins in the new sustainable bull market.
Maximize your Cointribne experience with our “Read to Earn” program! For each article you read, get points and approach exclusive rewards. Sign up now and start to accumulate benefits.
My name is Ariela and I’m 31 years old. I have been in the area of writing a website for 7 years. I have discovered discovery and cryptocurrency for only a few years. But it is a universe that interests me a lot. And subjects treated in the platform allow me to learn more. In my free time, the singer also cultivates a great passion for music and reading (and animals!)
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.