# BlackRock’s Bitcoin ETF Pauses: An Ominous Indication? JPMorgan Chase Recommends Procuring CAVA Equity Following Current Plunge; Equity Soars
New information from Lookonchain indicates that spot Bitcoin ETFs collectively included 428 BTC, valued at roughly $36.84 million, yesterday.
Although this number isn’t groundbreaking, the actual narrative revolves around BlackRock’s IBIT ETF, which didn’t witness any inflows whatsoever.
To be accurate, IBIT also didn’t undergo outflows, but BlackRock’s lack of participation in this investment phase conveys a lot about the existing market sentiment.
IBIT presently possesses a substantial 570,582.4137 BTC, estimated at around $48.29 billion, constituting approximately 50% of all Bitcoin held by ETF providers. Fidelity’s FBTC is the runner-up, although with a considerably smaller percentage.
The optimistic aspect is that BlackRock isn’t entirely uninvolved. As crypto aficionados have lately noted, the financial powerhouse is still procuring crypto, albeit at a decelerated rate compared to its earlier behavior.
Whether this constitutes a brief anomaly or the commencement of a novel pattern suggested by IBIT’s absence of inflows is yet to be determined. As of now, it serves as another sign that the crypto landscape isn’t entirely positive.
While BlackRock paused, Bitwise’s BITB (incorporating 142 BTC, valued at approximately $12.07 million) and Invesco Galaxy’s BTCO intervened to compensate for the deficit. The latter integrated 295 BTC throughout the reporting timeframe, assessed at roughly $25 million based on prevailing rates.
