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BlackRock, the world’s largest asset manager, recorded a significant increase in its Bitcoin ETF holdings, reaching 403,725 $BTC, valued at approximately $27.7 billion, as reported by Lookonchain in a post on X.
Oct 28 Update:
10 #Bitcoin ETFs
NetFlow: +5,246 $BTC(+$360.28M)🟢#Blackrock(iShares) inflows 4,369 $BTC($300M) and currently holds 403,725 $BTC($27.73B).9 #Ethereum ETFs
NetFlow: -387 $ETH(-$973K)🔴https://t.co/dFLYQIWNenpic.twitter.com/SXfSqF3eew— Lookonchain (@lookonchain) October 28, 2024
BlackRock’s iBIT ETF spearheaded the surge in Bitcoin investments, adding 4,369 $BTC worth approximately $300 million and 17,110 $BTC valued at around $1.18 billion over the past week.
At the time of writing, the total Bitcoin holdings across major ETFs amounted to 972,575 $BTC, valued at approximately $66.7 billion, with a 7-day net inflow of 14,782 $BTC, totaling over $1 billion.
Other Bitcoin ETFs like Fidelity’s FBTC ETF saw a positive inflow of 1,071 $BTC over the past week, while the ARK 21Shares Bitcoin ETF experienced an outflow of 3,091 $BTC.
In contrast, Ethereum ETFs collectively hold 2,765,649 $ETH, valued at around $6.9 billion, but recorded a 7-day net outflow of 2,917 $ETH, representing a value decline of approximately $7.3 million.
On the Ethereum side, the Grayscale Ethereum Trust, which holds the largest share of Ethereum among ETFs at 1,604,967 $ETH, registered a substantial outflow of 14,841 $ETH in the last week.
Despite minor positive inflows from ETFs like BlackRock’s iShares Ethereum Trust with 7,271 $ETH and Fidelity’s Ethereum Fund with 2,500 $ETH, the overall trend for Ethereum ETFs remains negative, indicating a waning interest compared to Bitcoin.