BlackRock’s iShares Bitcoin Trust (IBIT) now owns just under 60% of all Bitcoins owned by ETFs, he said, bringing its total to 776,474.65 coins as of Dec. 1. Its Q4 buying was preceded by the acquisition of another 71,236 coins in Q3, Hoffman wrote.
That means BlackRock’s ETF—which retail investors use to buy Bitcoin without actually owning their own crypto wallet—now owns 3.9% of all existing Bitcoin, more than Strategy.
BlackRock did not immediately respond to a request for comment from Fortune.
Here’s a snapshot of the markets ahead of the opening bell in New York this morning:
