BlackRock has announced that their Bitcoin ETF has now become the most profitable product line.

The data is quite astonishing - the IBIT in the US combined with Brazil's IBIT39 has nearly reached a management scale of $100 billion. Speaking of the US spot Bitcoin ETF IBIT, it just launched in January last year and in only 341 days it surged to a scale of $70 billion. Even more impressive, the amount of Bitcoin held by this product now accounts for over 3% of the total supply in the entire network.

After the market picked up this year, the speed of capital inflow has obviously accelerated. The entry of traditional financial institutions this time is indeed quite significant.

BTC5.96%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

19 Likes

Reward
19
6
Repost
Share

Comment

0/400

TokenomicsTinfoilHat

· 6h ago

BlackRock has a firm grip on this, that's how TradFi works, once you enter the game, you have to thoroughly understand the market... 3% of the Bitcoin supply is in their hands, this data needs to be carefully considered.

View OriginalReply0

MissingSats

· 11-30 05:41

Wow, BlackRock is treating Bitcoin like a gold mine. But that 3% supply figure is a bit scary; the institutions really can't hold back. The speed of IBIT is ridiculous, 70 billion in 341 days, TradFi is getting serious now. Wait, with such a large holding, is that good or bad? Liquidity has indeed arrived, but it feels like the crypto world is about to change.

View OriginalReply0

MrDecoder

· 11-30 05:37

BlackRock's move is really incredible, 700 billion in 341 days, this speed has slapped everyone in the face. 3% of BTC is in their hands, feels like we're one step closer to centralization. IBIT is just a cash cow for TradFi, I bet five bucks that it will continue to bleed us dry in the second half of the year.

View OriginalReply0

StableBoi

· 11-30 05:30

I just want to know, with BlackRock accumulating like this, will they dump? --- 700 billion in just 341 days? This speed is incredible, TradFi is really here. --- 3% of the supply in one hand, that's quite powerful. --- BlackRock is making a fortune; we need to eat some soup along with them. --- Wait, are they still hoarding? We need to follow the flow. --- This is the advantage of the system; we retail investors can't keep up at all. --- To put it bluntly, it's still about whether they'll dump later; it's too early to say nice things now. --- TradFi getting on board means they're optimistic; this signal is clear enough. --- Previously, it was said that nobody wanted Bitcoin, but now an ETF has accumulated 3%, talk about face-slapping. --- I'm just worried that one day they'll all sell together; can the market handle it?

View OriginalReply0

CryptoGoldmine

· 11-30 05:25

700 billion just over a year, this ROI curve is indeed beautiful. However, the key is that 3% open interest, institutions have a good grasp of the buy the dip rhythm.

View OriginalReply0

AirdropDreamBreaker

· 11-30 05:19

BlackRock's move is indeed ruthless, 70 billion in just over a year, TradFi has really arrived this time.

View OriginalReply0

Trending TopicsView More
#JoinGrowthPointsDrawToWiniPhone17
233.23K Popularity
#DecemberMarketOutlook
29.11K Popularity
#GIGGLEAndPIPPINSurge
5.02K Popularity
#LINKETFToLaunch
4.97K Popularity
#SharingMy100xToken
4.45K Popularity

Hot Gate FunView More

1
DLHDr Lin Han
MC:$3.6KHolders:2
0.29%
2
BTCcBTCc
MC:$3.48KHolders:1
0.00%
3
h5h5
MC:$3.4KHolders:1
0.00%
4
test3test3
MC:$3.38KHolders:1
0.00%
5
test2test2
MC:$3.38KHolders:1
0.00%

Sitemap