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BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated Bitcoin worth more than $537 million in May.
BlackRock’s IBIT accumulated over $537 million in Bitcoin during May 2024.
KEY POINTS
- IBIT’s Bitcoin holdings peaked at 823,000 coins before being reduced by 6,000 BTC mid-May.
- Large deposits totaling over 8,000 BTC were sent from IBIT to Coinbase Prime in recent days.
- Despite IBIT’s $7.9 billion in unrealized losses, net purchases by investors continued in May.
- Bitcoin’s price decline in May closely mirrored IBIT’s recent move from accumulation to distribution.
COMPANIES
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