The Bitcoin Trading Fund (ETF) is close to the 70 billion dollar brand in management assets, indicating an increasing interest in institutional investors even with the slowdown in retail flows.
Blackrock, the world’s largest asset manager, acquired more than 69.7 billion dollars from Bitcoin (BTC) Through ISHares Bitcoin Trust (Ibit) ETF, it represents more than 3.25 % of the total BTC supplies.
IBIT ETF from Blackrock now in more than 54.7 % of the market share for all investment funds circulated in the United States in the United States, which holds 6.12 % of the total Bitcoin supply 21 million, According to For sand dunes.
Blackrock teacher comes less than a year and a half after we discovered the investment funds circulating in Bitcoin first He appeared for the first time for trading On January 11, 2024.
The teacher comes amid sustainable flows in the ETF market. The investment funds circulated in the United States in the United States have registered eight consecutive days of pure positive flows, bringing $ 388 million in Bitcoin on Wednesday alone, According to For investors Farside.
IBIT has also entered the 25 largest boxes in the world by management assets.
The Blackrock box grew to the 23 largest ETF in the world between encryption products and traditional financing, According to To data from Vettafi.
However, some analysts say that the demand for investment funds circulating in the circulating investment funds are compensated by achieving profit and the pressure of sale from miners.
“The collapse may need a new catalyst or feelings,” Elijah Calchip, NEXO analyst, told Cointelegraph. He added that the long -awaited portfolios currently accommodate more supplies than mining workers, and added that the treasury strategies for companies and accumulation of great investors continue to compensate for profits.
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High -value investors dominate BTC transactions
Onchain data from Glassnode shows that large value transfers dominate the bitcoin network activity. Although the total number of transactions has decreased, the average transaction volume is now 36,200 dollars.
“This trend indicates that large entities continue to use bitcoin network, with the high productivity of each transaction even with a decrease in total activity by low counting,” According to To the Glassnode report released on Thursday.
Moreover, transactions exceeding $ 100,000 now represent more than 89 % of the network activity, which “enhances the opinion that high -value participants are increasingly dominant,” said Glasnoud.
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While big players accumulate, it seems less than the new retail investors enter the market.
The Bitcoin holder in the short term decreased to only 4.5 million from BTC, as more than 800,000 BTC decreased from a 5.3 million BTC contract on May 27, indicating that “new money dries in Bitcoin”. According to To Friday’s report from the Cryptoquant Analysis platform.
If investors continue to be weak, Bitcoin may find its next important support near the $ 92,000 brand, the price of traders that the price achieved as an important support level during bulls, according to Cryptoquant.
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