The BlackRock-issued iShares Bitcoin Trust is now backed by more than $48.9 billion worth of Bitcoin, blockchain data shows.
Bitcoin-stacking firms BlackRock and MARA Holdings bought a combined 9,173 Bitcoin while an unknown whale scooped up 600 Bitcoin as the cryptocurrency’s price fell to $92,957 on Dec. 5.
BlackRock bought a whopping 7,750 Bitcoin (BTC) as buyers scooped up shares of its spot Bitcoin exchange-traded fund, taking the firm’s total Bitcoin holdings to $48.9 billion at current prices, Arkham data shows.
“Fastest growing ETF EVER,” said Thomas Fahrer, founder of crypto markets firm Apollo, which tracks the spot Bitcoin ETF market.
