BlackRock IBIT, Secures 3.25% Of Total Bitcoin Supply…Continues Accumulating Beyond Mining Output

The global asset management company BlackRock's Bitcoin spot ETF IBIT surpassed assets under management (AUM) of 69.7 billion dollars, holding more than 3.25% of the total Bitcoin supply, according to Cointelegraph. This is one of the highest market shares as a single ETF, accounting for 54.7% of the BTC spot ETF market share in the United States.

Nexo's analyst Ilya Kalchev analyzed, “While wallets that have been inactive for a long time are waking up, more Bitcoins than the current BTC mining volume are being absorbed by the market.” He added, “Corporate financial strategies and continuous accumulation by major investors offset short-term profit realization volumes, which acts as a structure supporting the BTC price by causing supply shortages.”

On the other hand, the long-term holding nature of spot ETFs and the expanded participation of institutional investors are noted as factors supporting the mitigation of volatility and the potential for stable increase in the Bitcoin market.