Bloomberg ETF analyst: It’s only a matter of time before BlackRock’s Bitcoin holdings surpass MicroStrategy

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Cointime2024/01/17 01:44

By:Cointime

Eric Balchunas, an ETF analyst at Bloomberg, said that BlackRock's position in terms of Bitcoin holdings is strengthening. The current question is "when" it will surpass MicroStrategy, not "if" it will surpass MicroStrategy. Analysis found that the total trading volume of BlackRock and Fidelity's two spot Bitcoin ETFs has exceeded $3.1 billion so far, most of which is inflow of funds. In contrast, although the trading volume of Grayscale's GBTC and ProShares' BITO has reached $4.65 billion and $3.26 billion respectively, accounting for more than 60% of the total trading volume, most of it is outflow of funds, which is likely due to investors selling after recovering from losses over the past year.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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