As the spotlight shines on disclosures within the spot Bitcoin ETF landscape, BlackRock has stepped into the arena, unveiling its position in IBIT.

In contrast to other spot Bitcoin ETF providers who hold a substantial share in their respective ETFs, BlackRock, an investment management giant, holds a modest stake of just $5.5 million in the iShares Bitcoin Trust (IBIT).

BlackRock Falls Short as Top IBIT Holder

Julian Fahrer, a prominent tracker of Bitcoin ETF flows, noted that BlackRock has submitted its 13F filing, offering insights into institutional interest in Bitcoin ETFs. Within this filing, BlackRock disclosed its limited exposure of $5.5 million to its IBIT Bitcoin ETF.

This amount pales in comparison to the significant holdings of other issuers following approval by the United States Securities and Exchange Commission (SEC). Fahrer pointed out that entities like VanEck lead the pack as the primary holders of their Bitcoin ETF products.

Initially, Fahrer identified ARK Invest as the top holder of its ETF. However, a subsequent update revealed BraceBridge Capital as the new leading ARKB holder with a stake of approximately $262 million. ARK Invest holds $176 million in ARKB, while VanEck has an $85 million stake in HODL.

Interestingly, BraceBridge also claims the top spot as the largest IBIT holder with an $86 million stake.

Given the relatively small size of BlackRock's IBIT investment, some crypto analysts, including Fahrer, speculate that the firm might have undisclosed holdings.

Various entities have shown interest in the BlackRock Bitcoin ETF, demonstrating their support by investing in the product. Notably, BNP Paribas, Europe's second-largest bank, recently disclosed investing $41,684 in the BlackRock Bitcoin ETF by acquiring 1,030 units in its May 1st 13F filing.

JPMorgan also unveiled its Bitcoin ETF investments, with holdings of 11,000 IBIT shares valued at $445,170 and an additional 797 shares worth $32,255. This revelation followed Wells Fargo's disclosure of its spot Bitcoin ETF exposure, sparking optimism in the market.

Continued Outflows in Spot Bitcoin ETFs

Despite the ongoing outflows from all nine spot Bitcoin ETFs, enthusiasm seems to be waning. Recent data from Coingape indicates that U.S. Spot Bitcoin ETF outflows surged to $11.3 million on Thursday. Additionally, GBTC resumed its trend of negative flows, experiencing total outflows of $43.4 million.

Conversely, BlackRock is witnessing a gradual recovery, with a significant influx of $14.2 million, signaling investor confidence in the IBIT ETF. Despite these movements, the price of Bitcoin has not responded positively, currently showing a 0.43% decline to $60,981.64.