Catenaa, Wednesday, February 26, 2025-BlackRock Bitcoin exchange-traded fund (ETF) has reached a new milestone, surpassing 50% of the US Bitcoin ETF market share, even as Bitcoin ETF issuers faced a broader sell-off.
The world’s largest asset manager now holds over $56.8 billion worth of Bitcoin, accounting for 50.4% of the total Bitcoin ETF holdings in the US , which exceed $112 billion, according to data from Dune.
This achievement comes more than a year after the debut of the US spot Bitcoin ETFs in January 2024. Despite the ETF market facing a recent three-day sell-off, during which over $364 million in net outflows were recorded on Feb. 20, BlackRock’s iShares Bitcoin Trust ETF (IBIT) was responsible for $112 million of these outflows, data from Farside Investors revealed.
Bitcoin ETFs played a pivotal role in Bitcoin’s price rally earlier this year, contributing about 75% of new investments as Bitcoin rose above $50,000 on Feb. 15. However, Bitcoin’s price has shown resilience, staying above $99,300 on Feb. 21 despite ETF outflows. Industry analysts suggest that broader market factors, such as institutional accumulation and macroeconomic trends, are influencing Bitcoin’s price action more than ETF movements.
Some experts, including Samson Mow, CEO of Jan3, have raised concerns about Bitcoin’s range-bound price behavior, suggesting it may reflect price suppression rather than natural market dynamics.
