BlackRock buys $1.08 billion in BTC over 20 days, IBIT holds 785,900 BTC
- —IBIT bought $1.08 billion in BTC over 20 days, holding ~785,900 BTC in total
- —BlackRock's crypto assets topped $66 billion including ETH and altcoins
- —IBIT's fee is 0.25% versus 1.5% for Grayscale GBTC, driving the flow of funds
- —US spot bitcoin ETFs hold more than 1.2 million BTC worth $92 billion — over 6% of supply
Why it matters: The concentration of BTC in IBIT strengthens BlackRock's influence on the market and pressures competitors like Grayscale to reconsider fees.
Source: ZyCrypto