BlackRock's IBIT spot Bitcoin ETF has achieved a remarkable milestone in corporate holdings, as evidenced by multiple 13-F filings.

Since the SEC's approval of spot Bitcoin ETFs in January, BlackRock Inc's IBIT has consistently maintained its dominance in the ETF sector. The Bitcoin ETF has recently witnessed substantial inflows and a surge in corporate holders, setting a new standard in the ETF market.

BlackRock's IBIT Makes Waves in the Spot Bitcoin ETF Market

Bloomberg's Senior ETF analyst, Eric Balchunas, reported that BlackRock's IBIT attracted 414 reported holders during its initial 13F filing season. This achievement is deemed extraordinary, considering that a newly launched ETF typically has far fewer holders. The significant number of corporate holders reflects a strong belief in Bitcoin's potential as an asset class. Notably, Bracebridge Capital, a prominent investment firm based in Boston, holds a substantial stake in IBIT, with holdings totaling $100,638,773 according to its latest SEC filing.

Among the notable holders of BlackRock's IBIT are Rubric Capital, Wisconsin Investment Board, and Boothbay Fund Management based in New York. Boothbay Fund Management has diversified its investments by also engaging in Bitcoin ETFs offered by Fidelity, Grayscale, and Bitwise.

Balchunas' Bloomberg Intelligence chart illustrates that IBIT leads the pack, followed by Fidelity's FBTC, which has attracted over 200 holders in just four months. In contrast, other ETFs like Bitwise's BITB and ARK 21Shares' ARKB have fewer than 100 corporate holders subscribed to their offerings.

Despite recent outflows in the spot Bitcoin ETF ecosystem, signs of market recovery are emerging, hinting at a positive outlook for the ecosystem. Institutional interest in the niche has driven trading volumes for Bitcoin ETFs to a two-month high, with the seven largest Bitcoin ETFs collectively recording a trading volume of $5.65 billion in a single day.

Anticipation for Ethereum ETF Approval

While the success of corporate exposure to Bitcoin ETFs is celebrated, the crypto industry eagerly awaits the SEC's decision on spot Ethereum ETFs. Market observers and analysts express mixed sentiments regarding the likelihood of SEC approval for Ethereum ETFs. Bloomberg's ETF Analyst, James Seyffart, points to regulatory challenges in classifying Ethereum as a security as a potential obstacle to the approval of spot Ethereum ETFs.