Blackrock's Ishares Bitcoin Trust's BTC Holdings
Blackrock's spot bitcoin exchange-traded fund (ETF), known as the Ishares Bitcoin Trust (IBIT), has recently acquired 11,439 bitcoin. This amounts to a market value of approximately $500 million. The ETF began trading on the Nasdaq stock exchange just two days ago. It is worth noting that the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs this week, including Blackrock's Ishares Bitcoin Trust.
According to the Ishares ETFs' website, IBIT currently holds 11,439.2198 bitcoin. As of January 12, the market value of these holdings is $497,994,992.41. It is important to mention that bitcoin represents 99.99% of the trust's total holdings. Blackrock has clarified that the value displayed for 'shares' represents the total number of bitcoins held by the Ishares Bitcoin Trust.
A crypto enthusiast known as Martyparty shared an observation on the social media platform X on Saturday. They pointed out that on January 11, the Ishares Bitcoin Trust had a 50% allocation to bitcoin and a 50% allocation to cash (U.S. dollars). In contrast, other spot bitcoin ETFs such as the Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin Fund, and Ark 21shares Bitcoin ETF had a 100% allocation to bitcoin. Martyparty opined:
"Yesterday, I reported that Blackrock moved 50% of their ETF into cash. Well today, they updated and they did indeed, as I thought, buy the dip. They are now back in 100% in bitcoin."
Martyparty further added that there seems to be a new group of whale traders in the market. ETF fund managers can trade in and out of cash, including various currencies and forex. This flexibility allows them to take advantage of market opportunities. The price of bitcoin surged to $49,000 on the first day of spot bitcoin ETF trading but fell below $42,000 on the second day. At the time of writing, bitcoin is trading at $42,885.90.
Blackrock's Ishares Bitcoin Trust was one of the 11 spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) on Wednesday. The fund commenced trading on the Nasdaq stock exchange the following day.
Despite SEC Chairman Gary Gensler's deciding vote in favor of approving the 11 bitcoin ETFs, he clarified that the approval does not imply the Commission's endorsement of bitcoin. He continues to caution investors about the risks associated with crypto assets. SEC Commissioner Hester Peirce expressed disappointment in the delay in spot bitcoin ETF approval, stating that it wasted a decade of opportunities.
What are your thoughts on Blackrock's spot bitcoin ETF holding 11,439 BTC? Share your opinions in the comments section below.
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