Bitcoin ETFs have recently made more BTC additions. As per Lookonchain (a well-known platform offering on-chain analytics), nine Bitcoin exchange-traded funds have added up to 2,194 BTC (equaling $139.7 million) on July 18. The analytics provider took to its official social media account on X to provide the details of this collective inflow.
July 18 Update:
9 ETFs added 2,194 $BTC(+$139.7M).#Blackrock added 1,708 $BTC(+$108.7M) and currently holds 323,833 $BTC($20.62B).#Grayscale decreased 11 $BTC(-$713K) and currently holds 273,005 $BTC($17.4B).https://t.co/dy3Z31KBJ5 pic.twitter.com/wJdojVUPeX
— Lookonchain (@lookonchain) July 18, 2024
Nine ETFs See the Addition of $139.7M Worth of Bitcoin on July 18
In its latest X post, Lookonchain revealed that this development points toward huge movements within the ETF market of Bitcoin. In addition to this, it also mirrors both the adjustments and inflows that the popular ETFs have witnessed. BlackRock, a prominent asset management platform, notably enhanced its BTC holdings. In this respect, it has added up to 1,708 BTC with a value of almost $108.7 million.
BlackRock Adds 1,708 BTC while Grayscale Incurs the Exclusion of 11 BTC
The respective inclusion boosts the overall BTC holdings of BlackRock, placing the figure at 323,833 BTC. The respective amount reportedly accounts for approximately $20.62 billion. The resilient Bitcoin accumulation by BlackRock highlights the increasing institutional confidence regarding Bitcoin for its value. The platform has reportedly continued its investment in the top crypto asset.
This also signifies a strategic move for capitalization on the likely long-term crypto appreciation. On the other hand, another famous BTC ETF Grayscale went through a minor dip in the holdings thereof. Hence, the decrease of up to 11 BTC has resulted in the exclusion of $713,000. Nonetheless, it still possesses 273,005 BTC in its holdings at a value of nearly $17.4 billion. This minor decline operates as the routine portfolio adjustments of Grayscale.