BlackRock’s Bitcoin fund holds 607,000 coins worth $58 billion

U.S. spot Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) exchange-traded funds (ETFs) recorded significant inflows during Friday’s trading session, with Blackrock’s Bitcoin fund leading the activity, based on data from sosovalue.com.

Blackrock’s IBIT Bitcoin ETF attracted $674.91 million in new investments on Friday, increasing its Bitcoin holdings to approximately 607,685.49 BTC.

At current market prices, this Bitcoin reserve is valued at about $58.5 billion.

The other 11 spot Bitcoin ETFs remained largely unchanged during the session.

Since January 11, 2024, the total net inflows across the 12 Bitcoin funds have reached $40.24 billion.

Ethereum ETFs followed a similar trend, with Blackrock’s ETHA fund receiving $20.10 million in new investments.

The remaining eight Ethereum-linked ETFs showed no significant changes in inflows or outflows.

Since their launch in July 2024, the group of nine Ethereum ETFs has accumulated a net inflow of $2.51 billion.

TogEther, these nine Ethereum funds now hold $6.4 billion worth of Ether, representing approximately 2.87% of the cryptocurrency’s total market capitalisation.

The 12 spot Bitcoin ETFs collectively manage $113.15 billion in Bitcoin assets, which corresponds to about 5.87% of Bitcoin’s total market value.

Blackrock’s IBIT fund alone controls roughly 51.71% of the total Bitcoin held by these ETFs.

These figures indicate a concentrated investor interest in Blackrock’s offerings within the crypto ETF market.

The inflows reflect ongoing demand for regulated crypto investment products in the U.S. market.

According to market analysts, Blackrock’s IBIT single-handedly captured the entire influx, highlighting its dominant position among Bitcoin ETFs.

At the time of reporting, the Bitcoin (BTC) price was $94,358.01.