BlackRock's Bitcoin ETF Surging Past OKX and Kraken in BTC Holdings

BlackRock, the world's largest asset manager, has been dominating the cryptocurrency market with its Bitcoin ETF, iShares Bitcoin Trust (IBIT). The remarkable surge in BTC holdings by the ETF indicates institutional investors' increasing trust in Bitcoin as a valuable asset class. BlackRock's Bitcoin ETF has outperformed the combined Bitcoin holdings of OKX and Kraken, indicating a significant change in BTC asset management. Launched in mid-January 2024, the ETF now holds more BTC than both exchanges combined. The demand for cryptocurrency exposure among institutional investors has been soaring, and BlackRock's Bitcoin ETF has positioned itself to capitalize on this trend. The impressive BTC holdings of 243,130 BTC by IBIT surpass those of individual exchanges and even MicroStrategy. As of now, BTC is up 3.47% in the last 24 hours to $66,948, with $72,000 as the next potential target. According to predictions, a sustained break past $66,990 might trigger Bitcoin's rise toward $72,880.