Changpeng Zhao Comments on Bitcoin ETFs

Changpeng Zhao, the co-founder and former CEO of Binance, recently shared his thoughts on Bitcoin ETFs through his X platform account.

He specifically mentioned the Bitcoin exchange-traded fund (ETF) managed by BlackRock, noting a significant amount of Bitcoin held by the firm, worth approximately $54,256,865,292, according to Arkham Intelligence.

Zhao referred to BlackRock’s ETF, IBIT, as the “fastest-growing ETF in history,” emphasizing that it is only a year old since its launch in mid-January 2024. He remarked, “Just starting,” signifying the potential for growth in the Bitcoin ETF market.

> The bitcoin ETF is Blackrock’s fastest-growing ETF in history. It’s only a year old. Just starting. Tweet

Recent analytics from @lookonchain revealed that BlackRock’s IBIT saw inflows today amounting to $38.9 million (432 BTC), although another adjusted estimate suggests their Bitcoin holdings stand at $51.57 million. In contrast, Grayscale Bitcoin Mini Trust had a smaller inflow of 412 BTC valued at $36,452,878.

These two ETFs were the only ones to record inflows today; others faced significant outflows. Fidelity and Ark Invest ETF reported zero inflows, while Bitwise lost 76 Bitcoins. Invesco Galaxy and Grayscale also saw minor losses of 9 and 8 BTC respectively, while Valkyre Bitcoin Fund suffered the largest outflow, losing 670 Bitcoins worth $59,306,711.

> Mar 6 Update:
>
> 10 #Bitcoin ETFs
> NetFlow: +80 $BTC(+$7.22M)🟢#iShares(Blackrock) inflows 432 $BTC($38.9M) and currently holds 572,658 $BTC($51.57B).
>
> 9 #Ethereum ETFs
> NetFlow: +9,121 $ETH(+$20.57M)🟢#Grayscale(ETHE) inflows 4,922 $ETH($11.1M) and currently holds 1,268,755… Tweet