Founder of SkyBridge Capital Anthony Scaramucci has taken to the popular X social media platform (known as Twitter in the past) to share his excitement about the pace at which BlackRock’s spot Bitcoin ETF (iShares Bitcoin Trust [IBIT]) continues to acquire Bitcoin.
This week, BlackRock’s Bitcoin-based exchange-traded fund crossed over the $10 billion line within the last seven days. Scaramucci reminded his followers that earlier this week, the crucial milestones of $7 billion, $8 billion and $9 billion were reached.
$iBIT crosses over $10 billion in AUM (after crossing $7 billion, $8 billion and $9 billion on consecutive days…….all this week!)
— Anthony Scaramucci (@Scaramucci) March 1, 2024
Scaramucci seems to be following particularly the progress of BlackRock’s milestones as if it means something for him personally. Two weeks ago, the financier also drew his followers’ attention to the fact that iBIT had surpassed the $5 billion mark of the acquired Bitcoin by then. Scaramucci is known to be a vocal cryptocurrency supporter, not only of Bitcoin but also Ethereum and several other major altcoins. The aforementioned fund founded by Scaramucci allows customers to invest in Bitcoin, Ethereum and other digital currencies.
Bitcoin ETFs keep scooping up BTC
According to the @lookonchain blockchain sleuth, on Feb. 29, eight spot Bitcoin funds purchased nearly $1 billion worth of the leading global cryptocurrency – 14,934 BTC valued at $940 million.
From this impressive amount, BlackRock sucked in 10,140 BTC worth $638 million. The second largest acquisition of Bitcoin on Thursday was made by the Fidelity Bitcoin ETF as it saw an inflow of 4,066 BTC (the equivalent of $255.9 million). Grayscale ETF sold 2,223 BTC on that day ($139.8 million).
On Feb. 28, slightly less BTC was acquired by the ETFs in total – 12,187 $BTC ($745 million). BlackRock’s share here constituted 9,114 BTC. As of now, BlackRock’s iBIT holds 151,536 BTC.
Bitcoin’s staggering price action
The continuous acquisition of Bitcoin by the aforementioned funds is believed to have led to the recent Bitcoin price surge as BTC gained a whopping 23.52% earlier this week, growing between Monday and Thursday to reach the $63,000 price level.
This explosive increase has now been broken, however, and within the last 24 hours, Bitcoin has shed some of its recent gains – 3.31% earlier today, falling back to the $60,000 zone. By now, though, Bitcoin has been restored to the $62,000 mark, having added 1.84%.
