Categories: MarketsMenafn

BlackRock Withdraws Bitcoin Equivalent to 13 Days’ Supply, Sparks Concerns

Pro-Bitcoin advocate “InvestAnswers” brought attention to BlackRock’s notable acquisition of 11,500 BTC within two days.

BlackRock, recognized as one of the world’s largest asset management firms, reportedly absorbed this substantial amount, equivalent to about 13 days’ worth of Bitcoin production, given the daily issuance of approximately 900 BTC. At the prevailing market value of Bitcoin, BlackRock’s accumulation translates to an estimated $500 million.

BlackRock’s Spot ETF Impact

The disclosure further emphasized that during the same two-day period, BlackRock’s spot ETF accounted for only 25% of the total volume of Bitcoin ETFs. Considering this, it was suggested that 46,000 BTC was withdrawn from the market within the specified timeframe.

https://twitter.com/invest_answers/status/1746219895652802947?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener

According to the figures, if U.S. ETFs continue to withdraw Bitcoin at a daily rate of 23,000 BTC, they would accumulate it 25.56 times faster than its daily production. An analyst has warned that if this trend continues, the market could experience a significant shortage of Bitcoin supply.

This scenario could be exacerbated by the additional demand from retail investors, global ETFs, and other market participants looking to secure their BTC holdings.

Despite the concerns, the analyst concluded optimistically. They advise crypto market participants to overlook short-term price fluctuations. He suggested that the supply shortage could be pivotal in propelling Bitcoin’s market to unprecedented price levels.

In contrast, a commenter pointed out the tendency of BlackRock and other institutions to engage in over-the-counter (OTC) trading, commonly referred to as “dark pool” activity, as a strategic measure to mitigate market volatility.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Sui Price Surges 10% as the Network Launches Virtual Mastercard Integration In Europe

Sui is expanding its reach into everyday utility by integrating with crypto fintech platforms xPortal…

9 hours ago

Immutable Surges 42% Amid Gaming Adoption and Whale Activity

Immutable, the Ethereum Layer-2 solution powering Web3 gaming, has reclaimed the spotlight with a 42%…

21 hours ago

From 0 to R2 — Why We Built the Future of Yield

Dubai, UAE, 24th April 2025, ZEX PR WIRE, A Message from the Founding Team Quick…

23 hours ago

SUI Jumps 26% in 24 Hours Amid Wider Crypto Market Rally

SUI has spiked 26% in the last 24 hours and is now near the $3…

1 day ago

Lumoz RaaS to Support RISC-V zkEVM: Advancing Layer2 Performance and Scalability

Lumoz RaaS introduces support for RISC-V–based zkEVM, offering prebuilt development modules and a compatible toolchain…

2 days ago

Smartproxy Rebrands to Decodo: A New Era of Web Data Solutions

Vilnius, Lithuania, 22nd April 2025, ZEX PR WIRE, Smartproxy, a leading provider of proxy and web…

2 days ago