Major institutions invest in BlackRock’s Bitcoin ETF: Bloomberg analyst

Major financial institutions have made investments in BlackRock’s Bitcoin exchange-traded fund (ETF), according to Bloomberg analyst Eric Balchunas. As of March 31, spot Bitcoin ETFs had amassed nearly $60 billion in assets under management. Balchunas shared a list of 30 entities that hold shares of BlackRock’s IBIT spot Bitcoin ETF, which includes banks from Brazil, the UK, Liechtenstein, and traditional institutional firms. However, Balchunas noted that these institutions represent only 0.2% of IBIT’s shares, indicating a “nibbling” trend among these firms. BlackRock’s ETF currently holds the largest amount of BTC among US-traded ETFs, with over 272,000 BTC, worth around $16.7 billion. Recent transactions added 1,161.78 BTC to the fund’s address. A recent report from Glassnode and Coinbase Institutional revealed that spot Bitcoin ETFs traded in the US held more than double the initial assets they held in January, following approval from the Securities and Exchange Commission.