Over $1.38B BTC in three days this week
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ETFs acquired over $1.38B in Bitcoin this week, marking significant investor confidence. BlackRockโs BTC holdings face volatility, reflecting broader cryptocurrency market dynamics. Fidelityโs FBTC ETF sees inflows dip, raising concerns on institutional investment stability. Institutional investors are piling into Bitcoin ETFs at an unprecedented rate. Arkham Intelligence reports ETFs added over $1.38 billion worth of Bitcoin to their holdings in just three days, marking the largest single week of BTC purchases in the past four months. This surge in investment signals strong institutional confidence in the cryptocurrencyโs future. ๐๐ง๐๐ ๐ฏ๐ผ๐๐ด๐ต๐ ๐ผ๐๐ฒ๐ฟ $๐ญ.๐ฏ๐ด ๐๐ถ๐น๐น๐ถ๐ผ๐ป ๐ผ๐ณ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ถ๐ป ๐ง๐๐ฅ๐๐ ๐๐๐ฌ๐ฆ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ. This is ALREADY the biggest ETF week in FOUR MONTHS. pic.twitter.com/CvFm20O7Ld โ Arkham (@ArkhamIntel) October 17, 2024 Let us take a closer look at two major players in the Bitcoin ETF space, BlackRock and Fidelity. BlackRockโs Bitcoin Holdings Fluctuate BlackRock has seen notable fluctuations lately. At the time of writing, it stood at $26.27 billion, experiencing a dip of $389.69 million. The firm holds substantial positions in Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC). Bitcoin was trading at $66,892, and BlackRock held 375,169 BTC, totaling around $25.10 billion. This position declined by $377.42 million. This volatility highlights the challenges institutional investors face in the crypto space. BlackRock also holds 419,623 ETH, valued at $2,597.91 each, contributing approximately $1.09 billion to its portfolio. This ETH position has seen a slight decline of $12.27 million. USDC holdings remain stable at $80.04 million, reflecting a strategic approach to managing liquidity within their crypto investments. BlackRock also holds smaller positions in other assets like SPX, UBXS, CSI, and MOG, which have shown varied performance. Fidelityโs ETF Sees Inflows and Decline Fidelityโs ETF, known as FBTC, reported inflows of $610,554,597.37, which later declined by $9.18 million. Fidelityโs Bitcoin holdings consisted of 9,127 BTC, valuedโฆ
Filed under: News - @ October 18, 2024 8:28 am