Claim BonusBreaking: HK Firm Becomes Top Holder In BlackRock Bitcoin ETF (IBIT) – Bloomberg
Highlights
- Yong Rong HK Asset Management Ltd is largest holder in BlackRock iShares Bitcoin ETF (IBIT).
- Bloomberg analyst Eric Balchunas revealed over $38 million investment by Yong Rong in IBIT.
- Another Hong Kong firm Ovata bagged holdings in four spot bitcoin ETFs with total investment of $75 million.
Hong Kong-based Yong Rong HK Asset Management Ltd has become the largest holder in BlackRock iShares Bitcoin ETF (IBIT), as per new data revealed by Bloomberg Intelligence analyst on Friday.
Yong Rong Asset Management Bought $45M BlackRock Bitcoin ETF
Bloomberg senior ETF analyst Eric Balchunas revealed Yong Rong Asset Management based in Hong Kong purchased $38 million of BlackRock iShares Bitcoin ETF (IBIT). The investment advisor became the largest holder of IBIT, accounting for more than 12% of reported holdings.
“Interesting given HK has own ETFs now. But US ETFs have that irresistable combo of low fee and high volume,” said Eric Balchunas.
Yong Rong Asset Management’s top four holdings are Nvidia, Meta, Tesla, and iShares Bitcoin ETF. Meanwhile, the SEC data indicate the company has invested over $45 million to buy 1,127,561 IBIT units.
Bloomberg analyst also pointed out that while Yong Rong has the highest single ETF investment another Hong Kong firm Ovata bagged holdings in four spot bitcoin ETFs with total investment of $74 million. This makes the firm the biggest buyer of Bitcoin ETF yet. The top three holdings of the firm are Fidelity Wise Bitcoin ETF (FBTC), GBTC, and Bitwise Bitcoin ETF (BITB).
The U.S. Spot Bitcoin ETF outflows narrowed to $34 million after Wednesday’s massive negative flows of over $550 million. Ark 21Shares Bitcoin ETF saw the largest buying on Thursday.
Also Read: Pro-XRP Lawyers Say Ripple Will Lose Motion Against US SEC
Warning From Bloomberg Analyst
In an interesting theory by James Seyffart, ETF analyst at Bloomberg, a selloff by the same Hong Kong-based investment management firm could cause major outflow from IBIT.
In addition, he speculated that Yong Rong Asset Management could migrate from BlackRock iShares Bitcoin ETF to a Hong Kong-based spot Bitcoin ETF can also cause outflow. “Potential gains taxes make this strange if true though,” he added.
BTC price recovered over $61,000 after cooling labor market and an increase in unemployment to 3.9%, higher than expected 3.8%. This indicates the Fed can still have more rate cuts this year, with FED Swaps indicating 2 rate cuts of 25 bps each.
Also Read:
- Bitcoin Soars Past 61K As Job Data Indicates Dovish Stance From Fed
- Top 5 Reasons Why Bitcoin Price Recovery Is Confirmed
- Kraken Subsidiary Is Major A Beneficiary Of Bitcoin ETFs In US & HK
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Markets Eye Rebound as Fed Completes $40B in Reserve Management Purchases
- Scott Bessent Calls for More Fed Rate Cuts in 2026 as Miran Backs 150 bps Cut
- Breaking: U.S. Initial Jobless Claims Rise to 208K, Bitcoin Drops
- Gold Demand Drives $2B Daily Bitget TradFi Volume as Crypto Traders Diversify
- BlackRock Transfers $280M in BTC and ETH as Crypto Market Awaits U.S. Initial Jobless Claims
- Ethereum Price Eyes a 30% Surge as Vitalik Buterin Names it the ‘World’s Heartbeat’
- XRP Price Prediction After Spot XRP ETFs Record the First Outflow in 36 Days?
- XRP vs Solana Price: Which Could Outperform in January 2026?
- Meme Coin Price Prediction For Jan 2026: Dogecoin, Shiba Inu And Pepe Coin
- Pi Coin Price Eyes Rebound to $0.25 as Top Whale Nears 400M Milestone
- Ethereum Price Prediction Ahead of US data Report
