How Much Does BlackRock Hold In Its Bitcoin ETF?
Highlights
- BlackRock has disclosed its Bitcoin ETF holdings in IBIT
- The firm shockingly holds a limited stake in its own Bitcoin ETF
- Bitcoin remain unmoved with the growing ETF disclosures
Unlike other spot Bitcoin ETF issuers that have a significant percentage stake in their individual ETFs, investment management firm BlackRock holds only a mere $5.5 million stake in iShares Bitcoin Trust (IBIT).
BlackRock is Not The Top Holder of IBIT
According to Julian Fahrer, a known tracker of Bitcoin ETF flows, BlackRock has also filed its 13F. The filing serves as a gauge of institutional interest in Bitcoin ETFs. In this filing, the firm revealed its moderate $5.5 million exposure to its IBIT Bitcoin ETF.
This is a far cry from the huge stakes that other issuers have in their offerings since greenlighted by the United States Securities and Exchange Commission (SEC). Fahrer highlighted that issuers like VanEck are the #1 holders of their Bitcoin ETF products.
At first, he reported that ARK Invest is also the largest holder of its ETF. However, in a later X post, Fahrer identified BraceBridge Capital as the new top ARKB holder with a stake of about $262 million. ARK Invest holds a stake of $176 million in ARKB while VanEck has an $85 million stake in HODL.
Noteworthy, BraceBridge is also the number one IBIT holder with an $86 million stake.
Considering how small BlackRock’s IBIT stake is, some crypto analysts, including Fahrer, suspect the firm may have a hidden stash.
Several organizations are interested in the BlackRock Bitcoin ETF and have shown their support by plunging funds into the offering. One of the most recent is BNP Paribas, the second-largest bank in Europe. In its May 1st 13F filing, BNP Paribas revealed investing $41,684 in the BlackRock Bitcoin ETF by purchasing 1,030 units.
JPMorgan also disclosed its investments in Bitcoin ETFs and its portfolio shows that the firm holds 11,000 IBIT shares worth $445,170 and an additional 797 shares valued at $32,255. This disclosure came after Wells Fargo revealed its spot Bitcoin ETF exposure, sparking optimism in the market.
Spot Bitcoin ETF Outflows Continue
Meanwhile, the outflows from all nine spot Bitcoin ETFs continued to surge, marking a drop in the hype. As reported by Coingape, U.S. Spot Bitcoin ETF outflows surged to $11.3 million on Thursday. Also, GBTC resumed its trend as the sole ETF facing negative flows, witnessing a total of $43.4 million outflows.
On the other hand, BlackRock is gradually recovering as it saw a notable influx of $14.2 million, indicating investor confidence in the IBIT ETF. Overall, the price of Bitcoin has not responded positively to the growing ETF holdings. At the time of writing, the coin is down by 0.43% to $60,981.64.
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