The recent revelation by senior ETF analyst Eric Balchunas has caused quite a stir in the crypto market. BlackRock’s IBIT ETF has not only surpassed its rival ETFs in terms of the amount of Bitcoin held but has also excelled in another crucial metric. Balchunas highlighted this surprising development in a recent tweet, where he disclosed that the fund had attracted a whopping 414 reported holders during its first 13F season. This figure, described by the analyst as “mind boggling,” has shattered previous records, according to Balchunas.
Impressive Holder Numbers
Balchunas went on to emphasize the significance of this achievement by stating that even if a newly established ETF manages to attract 20 holders, it is considered a major milestone and a rarity in the market. To put things into perspective, the analyst shared an infographic illustrating the substantial lead that BlackRock’s IBIT ETF holds over its competitors. While other prominent spot Bitcoin ETFs such as Bitwise’s BITB, Fidelity’s FBTC, and Ark Invest have reported holder numbers ranging from 100 to under 250, BlackRock’s ETF has surged ahead with over 400 reported holders.
Stagnant Inflows but Dominant Position
Despite the impressive holder numbers and growing interest in BlackRock’s IBIT ETF, the fund has been facing a peculiar situation. It has witnessed zero inflows for the third consecutive day, contrasting with the positive inflows seen by other spot ETFs in the past three days. Data provided by the @spotonchain analytics account indicates that the other nine spot ETFs collectively garnered $303 million worth of Bitcoin on May 15, underscoring the dominance of BlackRock’s ETF in terms of holder numbers but highlighting its stagnant inflows.
BlackRock’s IBIT ETF has emerged as a formidable player in the crypto market, capturing the attention of investors and analysts alike with its impressive holder numbers. While the fund may be experiencing stagnant inflows currently, its dominant position in terms of reported holders and overall market presence indicates a promising future for BlackRock’s foray into the world of Bitcoin ETFs. As the crypto market continues to evolve and attract institutional interest, BlackRock’s IBIT ETF stands out as a key player to watch in the ever-changing landscape of digital assets.