In less than two months of existence, the BlackRock iShares Bitcoin ETF (IBIT) has accumulated more bitcoin (BTC) than MicroStrategy (MSTR).
According to the fund’s latest disclosure, IBIT held 195,985 bitcoin on Friday after another day of significant inflows. Meanwhile, the most recent public statements from MicroStrategy show the company as of Feb. 26 held 193,000 tokens.
It’s possible that MicroStrategy has added to that total since, as the company earlier this week priced a $700 million capital raise with intentions to use the funds to purchase more bitcoin.
Since the launch of the spot ETFs on Jan. 11, BlackRock’s IBIT has often added hundreds of millions of dollars worth of bitcoin on a daily basis, establishing itself as the largest of the new spot products (excepting the Grayscale Bitcoin Trust, which was converted from a closed end fund).
Next in line for IBIT would be…
