BlackRock’s Bitcoin ETF nears $70B as big investors dominate market

BlackRock’s iShares Bitcoin Trust (IBIT) is approaching $70 billion in assets under management, now holding over 3.25% of Bitcoin’s total supply and leading the U.S. spot Bitcoin ETF market with a 54.7% share, according to Cointelegraph. IBIT is also among the world’s top 25 largest ETFs. Institutional demand remains strong, with large transactions dominating network activity. Over 89% of Bitcoin transfers now exceed $100,000, while retail interest is fading. Short-term holders have dropped significantly, suggesting new capital inflows are slowing. Analysts say continued accumulation by large investors is helping to offset selling pressure from miners.