BlackRock's Bitcoin ETF Nears 200K BTC, Passing Michael Saylor's MicroStrategy
The BlackRock iShares Bitcoin ETF (IBIT) has accumulated more bitcoin than MicroStrategy, holding 195,985 tokens compared to MicroStrategy's 193,000 as of February 26. MicroStrategy may have increased its holdings since then, as it recently priced a $700 million capital raise to buy more bitcoin. Since its launch on January 11, IBIT has frequently added hundreds of millions of dollars worth of bitcoin daily, making it the largest new spot product, excluding the Grayscale Bitcoin Trust. The Grayscale's GBTC has lost over 200,000 bitcoin since the spot products launched but still holds around 400,000 tokens. The high demand for the new spot ETFs has contributed to bitcoin's price surge of over 60% this year, with the cryptocurrency reaching an all-time high of $70,136.
