4E: BlackRock positions exceed 700,000 BTC, encryption ETF demand far exceeds miner supply "
On July 9, according to 4E Observation, the IBIT Bitcoin Spot ETF of BlackRock, the world's largest asset management company, received another net inflow of US$165 million this week, with positions exceeding 700,000 BTC, and the current market value is approximately US$75.5 billion. Since its establishment in early 2024, the ETF has achieved a total return of 82.67%, and currently accounts for more than 55% of all BTC spot ETF positions in the United States. According to statistics from Galaxy Research, as of 2025, U.S. institutions such as IBIT and MicroStrategy have purchased a total of approximately US$28.2 billion in Bitcoin, while new output from miners during the same period was only US$7.85 billion, indicating that institutional demand continues to exceed new supply in the chain, boosting BTC's long-term fundamentals. In addition, the attitude of regulators has also eased. The Securities and Exchange Commission (SEC) is studying simplifying the ETF approval process. It plans to uniformly apply on Form S-1 and set a 75-day review period, which will automatically take effect if there is no objection. Earlier this month, REX-Osprey launched the first Solana ETF with pledged income, which also marked the gradual expansion of ETF products to other crypto asset classes. 4E reminds investors that the growth of institutional positions and signals of regulatory easing are reshaping the market structure, and we need to continue to pay attention to potential fluctuations caused by ETF fund dynamics and policy evolution.
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