Market Brief
Daily market recaps with key events, stock movements, and global influences
BlackRock’s iShares Bitcoin Trust stepped up its accumulation this week, adding 5,990 Bitcoin on 17 June, 2,670 Bitcoin on 18 June and a further 2,680 Bitcoin on 19 June, according to fund-flow data. The purchases lift the exchange-traded fund’s holdings to about 670,000 Bitcoin—roughly 3% of the cryptocurrency’s circulating supply—and push its assets under management to roughly $74.8 billion. The fund has spent an estimated $1.4 billion on Bitcoin over the past six trading days. The aggressive buying helped extend the broader market’s streak of positive flows: U.S. spot Bitcoin ETFs recorded eight consecutive days of net inflows through 19 June, pulling in a combined $2.4 billion, The Block reported. On 19 June alone, the products gathered $389.57 million, with BlackRock’s IBIT accounting for $278.93 million and Fidelity’s FBTC attracting $104.38 million, offsetting modest outflows from other issuers. BlackRock is also accumulating Ethereum, purchasing 6,020 ETH on 18 June and taking its month-to-date buying above $750 million. Even so, analyst data show Ethereum products lag behind their Bitcoin counterparts, with only $19 million of inflows on 19 June and total monthly inflows of about $861 million. Market participants are watching whether BlackRock’s continued activity can close that gap in the weeks ahead.