Institutional Dominance in Bitcoin Market

BlackRock's iShares Bitcoin Trust (IBIT) has accumulated 【3.25%】 of Bitcoin's total circulating supply, valued at nearly $70 billion. This positions the world's largest asset manager as a major player in the cryptocurrency space, with its ETF now controlling 【54.7%】 of all US spot Bitcoin ETF market share. The milestone comes just 18 months after these investment products launched in January 2024.

Changing Landscape of Bitcoin Ownership

Data from Dune Analytics reveals US spot Bitcoin ETFs collectively hold 【6.12%】 of BTC's total supply. Brickken analyst Enmanuel Cardozo notes: ——This institutional accumulation creates supply scarcity that could drive future price movements——. The trend coincides with eight consecutive days of net inflows totaling $388 million into Bitcoin ETFs as of Wednesday.

Whale Activity Versus Retail Participation

Glassnode reports the average Bitcoin transaction size has reached 【$36,200】, with transfers exceeding $100,000 comprising 【89%】 of network activity. Meanwhile, CryptoQuant data shows short-term holders (typically retail investors) have reduced their positions by 【800,000 BTC】 since late May. ——New money appears to be drying up—— the analytics platform observed in its latest report.

Market Implications and Future Outlook

Nexo analyst Iliya Kalchev suggests Bitcoin may find support near 【$92,000】 if current trends continue. While institutional demand remains strong through ETFs, selling pressure from miners and profit-taking could delay significant price breakthroughs. The divergence between large and small investors creates an unusual market dynamic where ——supply scarcity meets selective demand—— according to industry observers.

Global Ranking and Adoption Milestones

BlackRock's IBIT has entered the top 25 global ETFs by assets under management, ranking 【23rd】 among both crypto and traditional financial products. This institutional embrace contrasts with slowing retail participation, as evidenced by declining new wallet creation and smaller transaction volumes. The bifurcation in investor behavior presents both challenges and opportunities for Bitcoin's next growth phase.