In a most curious turn of events, the illustrious Changpeng Zhao, commonly referred to as CZ, who has co-founded the grand establishment known as Binance, and held the esteemed position of its CEO until the latter part of the year 2023, has taken to the X platform to regale us with his thoughts on the remarkable advancements in the realm of Bitcoin exchange-traded funds. One cannot help but wonder if he has taken a moment to sip his tea whilst pondering such matters.
He has particularly drawn attention to a certain Bitcoin ETF, orchestrated by the formidable BlackRock, which, as it appears, has amassed a staggering sum of Bitcoin, amounting to a princely $54,256,865,292, as revealed by the ever-reliable Arkham Intelligence. One might say that such a sum could purchase a rather grand estate, or perhaps a small island, should one be so inclined. 🏝️
CZ, in his characteristic manner, has dubbed BlackRock’s ETF, known as IBIT, the “fastest-growing ETF in history,” a title that, while perhaps a touch hyperbolic, does indeed capture the imagination. He noted that this financial marvel is but a mere year old, having made its debut in the middle of January 2024. “Just starting,” he proclaimed, as if to suggest that we have yet to witness the full extent of its potential. One can only hope that it does not grow too fast, lest it become a source of envy among its peers. 😏
The bitcoin ETF is Blackrock’s fastest-growing ETF in history. It’s only a year old. Just starting.
— CZ 🔶 BNB (@cz_binance) March 6, 2025
In a rather amusing twist, a recent missive from the @lookonchain analytics account has revealed that BlackRock’s IBIT has experienced inflows of $38.9 million, equivalent to 432 BTC. However, the adjusted figures suggest a slightly less grandiose total of $51.57 million. One might ponder whether such discrepancies are merely the result of a miscalculation or a clever ruse to keep us all guessing.
Meanwhile, the Grayscale Bitcoin Mini Trust, in a display of modesty, has seen a smaller inflow of 412 BTC, valued at $36,452,878. It appears these two ETFs are the only ones to have enjoyed a delightful influx today, while their counterparts have faced rather disheartening outflows. Fidelity and Ark Invest ETF, it seems, have been left with naught but empty coffers, while Bitwise has lost a mere 76 Bitcoins. The Valkyre Bitcoin Fund, however, has suffered the most grievous fate, with a staggering outflow of 670 Bitcoins, valued at $59,306,711. One can only imagine the lamentations echoing through their halls. 😱
Mar 6 Update:
10 #Bitcoin ETFs
NetFlow: +80 $BTC(+$7.22M)🟢#iShares(Blackrock) inflows 432 $BTC($38.9M) and currently holds 572,658 $BTC($51.57B).9 #Ethereum ETFs
NetFlow: +9,121 $ETH(+$20.57M)🟢#Grayscale(ETHE) inflows 4,922 $ETH($11.1M) and currently holds 1,268,755…— Lookonchain (@lookonchain) March 6, 2025
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2025-03-06 23:32