The size of the BlackRock Bitcoin spot ETF has exceeded $69.7 billion, accounting for 3.25% of the total BTC supply

According to Cointelegraph, the managed size of BlackRock's Bitcoin Spot ETF (IBIT) has exceeded $69.7 billion, holding 3.25% of the total Bitcoin supply and occupying 54.7% of the US Bitcoin ETF market. It is worth noting that the ETF has already entered the top 25 global ETF asset management scales within less than a year and a half of operation. According to Glassnode data, the average amount of a single Bitcoin transaction is currently 36200 US dollars, with 89% of large transactions exceeding 100000 US dollars, indicating that institutional investors are dominating the market. But the CryptoQuant report points out that the number of short-term holders of Bitcoin has decreased by 800000 to 4.5 million compared to May 27th, indicating that new market funds are drying up. CryptoQuant believes that if investor demand remains weak, Bitcoin may seek support at the $92000 level.