Bitcoin ETFs Drive Record $1.38 Billion BTC Accumulation in Three Days

• ETFs acquired over $1.38B in Bitcoin this week, marking significant investor confidence.
• BlackRock’s BTC holdings face volatility, reflecting broader cryptocurrency market dynamics.
• Fidelity’s FBTC ETF sees inflows dip, raising concerns on institutional investment stability.

Institutional investors are piling into Bitcoin ETFs at an unprecedented rate. Arkham Intelligence reports ETFs added over $1.38 billion worth of Bitcoin to their holdings in just three days, marking the largest single week of BTC purchases in the past four months. This surge in investment signals strong institutional confidence in the cryptocurrency’s future.

Let us take a closer look at two major players in the Bitcoin ETF space, BlackRock and Fidelity.

BlackRock’s Bitcoin Holdings Fluctuate

BlackRock has seen notable fluctuations lately. At the time of writing, it stood at $26.27 billion, experiencing a dip of $389.69 million. The firm holds substantial positions in Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC).

Bitcoin was trading at $66,892, and BlackRock held 375,169 BTC, totaling around $25.10 billion. This position declined by $377.42 million. This volatility highlights the challenges institutional investors face in the crypto space.

BlackRock also holds 419,623 ETH, valued at $2,597.91 each, contributing approximately $1.09 billion to its portfolio. This ETH position has seen a slight decline of $12.27 million.

USDC holdings remain stable at $80.04 million, reflecting a strategic approach to managing liquidity within their crypto investments. BlackRock also holds smaller positions in other assets like SPX, UBXS, CSI, and MOG, which have shown varied performance.

Fidelity’s ETF Sees Inflows and Decline

Fidelity’s ETF, known as FBTC, reported inflows of $610,554,597.37, which later declined by $9.18 million. Fidelity’s Bitcoin holdings consisted of 9,127 BTC, valued at $66,892, translating to approximately $610.55 million.

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This represents a significant drop in recent performance, as the fund recorded a loss of about $1.01K in value, raising concerns about the resilience of institutional investments amid market fluctuations.