BlackRock Bitcoin Spot ETF has exceeded $69.7 billion, accounting for 3.25% of the total BTC supply

PANews reported on June 20 that according to Cointelegraph, the management scale of BlackRock's Bitcoin Spot ETF (IBIT) has exceeded US$69.7 billion, holding 3.25% of the total supply of Bitcoin, accounting for 54.7% of the US Bitcoin ETF market. It is worth noting that the ETF has ranked among the top 25 global ETF asset management scales in less than a year and a half of operation.

Glassnode data shows that the current average transaction amount of a single Bitcoin transaction is $36,200, and large transactions exceeding $100,000 account for 89%, indicating that institutional investors are dominating the market. However, the CryptoQuant report pointed out that the number of short-term Bitcoin holders has decreased by 800,000 to 4.5 million compared with May 27, indicating that new funds entering the market are drying up. CryptoQuant believes that if investor demand continues to be weak, Bitcoin may find support at $92,000.