- BlackRock’s IBIT holds over 50% of U.S. spot Bitcoin ETF share.
- IBIT controls 95% of bullish options positioning in Bitcoin.
- ETF inflows and institutional demand push Bitcoin toward $120K.
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Bitcoin’s (BTC) rally is increasingly being shaped by institutional capital, with spot ETFs and derivatives markets showing unprecedented levels of activity. At the center of this surge is BlackRock’s iShares Bitcoin Trust (IBIT), which continues to pull in the lion’s share of flows and sentiment.
Institutional Accumulation Reaches Record Levels
U.S. spot Bitcoin ETFs now hold 6.6% of the circulating supply, while corporate treasuries account for another 7.22%. Combined, these allocations underscore how institutional buying has become a cornerstone of Bitcoin’s price resilience. With Bitcoin trading above $116,000, institutional positioning suggests that $120,000 could be the next key target.
Options Market Turns Bullish
Recent options data shows strong conviction. Total Open Interest Delta reached $10.65 billion, while the Call/Put Ratio jumped to 4.4, signaling heavy demand for upside exposure. Strikingly, IBIT controlled 95% of this positioning, with about $10.45 billion in exposure compared to just $200 million for Grayscale. This imbalance highlights BlackRock’s dominant role in shaping derivatives sentiment.
IBIT’s Unprecedented Spot ETF Growth
IBIT is also setting records in the spot ETF market. It now accounts for over 50% of U.S. spot Bitcoin ETF market share, holding 3.84% of Bitcoin’s supply. Bloomberg’s Eric Balchunas noted that the scale of ownership is without precedent, comparing it to an equity ETF needing $2.2 trillion in assets to match the same level of concentration.
Daily flows confirm this trend. In the past 24 hours alone, U.S. spot Bitcoin ETFs attracted $429.96 million, with IBIT contributing nearly half. These inflows point to aggressive institutional demand and a market preparing for the next price leg higher.
Also Read: Metaplanet Buys 5,268 BTC for $623M, Becomes 4th Largest Public Bitcoin Holder
On-chain metrics further back the bullish case. CryptoQuant data shows the Funds Market Premium turned positive, reflecting stronger bid pressure. With ETF holdings now at 1.3 million BTC and trading volume topping $4.6 billion daily, traditional investor flows are increasingly solidifying Bitcoin’s foundation.
If this momentum continues, Bitcoin’s climb toward $120,000 may arrive sooner than expected—driven not by retail speculation, but by Wall Street’s heaviest hitters.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
