So, iShares Bitcoin Trust (IBIT) from BlackRock acquired 197,943 BTC, surpassing MicroStrategy, which holds 193,000 BTC. These details were provided by the research department at BitMEX.

Speaking of money, IBIT now holds bitcoins worth $13.58 billion, making it a primary competitor to Grayscale Bitcoin Trust (GBTC). This achievement was reached in nearly 40 trading sessions after the SEC approved the product.

Grayscale Bitcoin Trust ETF continues to lead in its sector, managing assets worth $27.42 billion. The outflow during this period amounted to $10.55 billion, leaving GBTC with 399,742 BTC.

The total assets under management by competitors (over $28 billion) have surpassed the value of the Grayscale instrument for the first time.

On March 8th alone, the net product of the Bitcoin ETF reached $223 million. Overall, since January 11th, it has amounted to $9.59 billion.

The activities of exchange-traded fund issuers have led to a reduction in the number of available coins on OTC platforms. According to Lark Davis, founder of Wealth Mastery, there are indications that positions will continue to grow through purchases on CEX.

bitcoin total otc

Earlier, CoinShares reported that the demand for Bitcoin ETF is three times higher than the production of digital gold.

Let’s also recall that JPMorgan expressed doubts about the possibility of Bitcoin-based exchange-traded funds surpassing analogs tied to key precious metals in terms of value in investors’ portfolios.