BlackRock Leads the Way in Bitcoin ETF Market Expansion

BlackRock has taken the lead in the Bitcoin ETF market by accumulating 203,754 BTC for investors in less than three months. The iShares Bitcoin ETF (IBIT) from BlackRock currently has a notional value of $14.7 billion as of March 11, making it the largest Bitcoin ETF among the nine new funds approved by the U.S. SEC on January 10.

BlackRock’s iShares Bitcoin ETF holdings surpass $14.7 billion, outshining other ETFs including Fidelity’s FBTC with $9.2 billion in assets under management. Together, BlackRock and Fidelity have garnered over $17 billion in cumulative net inflows from eligible investors.

While BlackRock holds the largest BTC stash among new ETF issuers, MicroStrategy, led by Michael Saylor, has inched ahead with ownership of 205,000 BTC.

The success of IBIT has sparked interest in more Bitcoin ETFs from BlackRock, with plans to expand its BTC ETF footprint globally. BlackRock is seeking SEC approval to include spot BTC ETFs in its Global Allocation Fund and has launched the iShares Bitcoin Trust ETF’s Depositary Receipts in Latin America in partnership with Brazil’s B3 stock exchange.

Despite BlackRock’s track record of successful SEC applications, analysts are cautious about the approval of spot Ethereum ETFs from the company and other issuers. The SEC has delayed decisions on these filings until May, with experts predicting slim chances of approval by the deadline. Lack of communication between the SEC and issuers like BlackRock has raised skepticism, although reports suggest meetings will be held this month.

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