BlackRock's Bitcoin ETF Surpasses MicroStrategy in Asset Holdings

BlackRock's spot Bitcoin ETF has been active on the global market for approximately 40 days, during which the organization has been actively accumulating Bitcoin. Currently, the fund holds control over 196,000 BTC, surpassing MicroStrategy, which holds around 193,000 coins.

According to data from Bitcoin Treasuries, MicroStrategy acquired its BTC at an average price of $31,554, amounting to approximately $6.09 billion. Before the approval of ETFs, MicroStrategy was considered by investors as one of the primary means to access the leading digital currency. However, the emergence of industry-specific funds is making traditional financial institutions more competitive in influencing the digital asset market.

Bitcoin continues to trade amidst a global uptrend, recently reaching an all-time high (ATH) of $70,200. However, a slight pullback followed as a significant selling volume was concentrated above this mark. Many experts are actively discussing Bitcoin's potential medium-term behavior.

Glassnode experts note that investors are not yet inclined to sell their assets despite Bitcoin's significant price increase. Many major holders are transferring coins to cold storage, reducing the market supply, which could contribute to further growth in the digital asset within a sustainable demand framework. However, breaking above $70,000 in the near future is expected to be quite challenging, potentially leading to a local consolidation phase.