BlackRock’s Bitcoin Holdings Exceed 200,000 BTC as MicroStrategy Continues Accumulation

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BlackRock, one of the world’s largest asset management firms, has officially updated its spot Bitcoin ETF Bitcoin holdings data, revealing a significant increase in its cryptocurrency assets. As of March 11, the firm’s Bitcoin holdings surpassed 200,000, reaching 203,754.8 BTC, with a market value of approximately US$14.76 billion.

Continuous Accumulation of Bitcoins

BlackRock, one of the world’s largest asset management firms, has officially updated its spot Bitcoin ETF Bitcoin holdings data, revealing a significant increase in its cryptocurrency assets. As of March 11, the firm’s Bitcoin holdings surpassed 200,000, reaching 203,754.8 BTC, with a market value of approximately US$14.76 billion.

This announcement comes on the heels of MicroStrategy’s disclosure that it has acquired an additional 12,000 BTC, pushing its total Bitcoin holdings to 205,000 Bitcoins. Both BlackRock and MicroStrategy’s continued accumulation of Bitcoin underscores the growing institutional interest in cryptocurrency as a store of value and investment asset.

Fee Structure

In addition to revealing its Bitcoin holdings, BlackRock also announced adjustments to its fee structure for its spot Bitcoin ETF. The firm will waive a portion of the Sponsor’s Fee for the first 12 months starting from January 11, 2024. During this period, the fee will be set at 0.12% of the net asset value of the Trust for the first $5.0 billion of the Trust’s assets. However, if the fund exceeds $5.0 billion of assets before the end of the 12-month period, the Sponsor’s Fee charged on assets over $5.0 billion will increase to 0.25%.

It’s worth noting that all investors will incur the same Sponsor’s Fee, which is the weighted average of these fee rates. Once the 12-month waiver period concludes, the Sponsor’s Fee will revert to 0.25%.

Evolving Dynamics

These developments reflect the ongoing mainstream adoption of Bitcoin and highlight the evolving dynamics of institutional involvement in the cryptocurrency market. As major financial institutions like BlackRock and MicroStrategy continue to allocate significant resources to Bitcoin, it signals a growing recognition of cryptocurrency’s role in diversified investment portfolios and underscores the increasing maturation of the digital asset ecosystem.

Author: Grace

Grace likes gardening. She holds some BTC and ETH.