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Bitcoin (BTC) remained steady at $108,700 in pre-market U.S. hours on Tuesday, with investors waiting on Wednesday’s release of Federal Reserve meeting minutes and the possibility of U.S. President Donald Trump’s tariff deadline extension.
The muted price action followed news that BlackRock’s iShares Bitcoin Trust ETF (IBIT) surpassed 700,000 BTC in assets under management (AUM) on Monday. As of July 3, IBIT held 698,919 BTC, according to its fund page. That total increased by approximately 1,510 BTC on July 7, according to Coin Glass data, putting the fund over the 700,000 mark.
IBIT overtook Grayscale’s Bitcoin Trust ETF (GBTC), which was the first ETF on the scene, over a year ago and has since widened the gap.
IBIT and GBTC have both gained more than 11% so far this year. However, Bitcoin’s price has increased by nearly 25% over the same period. On Stocktwits, retail sentiment around IBIT improved to ‘bullish’ territory from ‘neutral’ a day ago.
Collectively, U.S.-listed spot Bitcoin ETFs now hold roughly 1.25 million BTC, or about $135 billion in assets, according to CoinGlass. That represents nearly 6% of Bitcoin’s 21 million total supply. IBIT alone accounts for around 56% of those holdings, surpassing even Strategy’s (MSTR) corporate treasury, which holds 597,325 BTC, worth an estimated $65 billion.
At the time of writing, Bitcoin’s price had edged up 0.2% in the last 24 hours. Retail sentiment on Stocktwits around the apex cryptocurrency improved to ‘bullish’ territory from ‘neutral’ a day ago.
In the broader crypto market, Ethereum (ETH) was the only major token in positive territory, up 0.7% to $2,560. Solana (SOL) fell 0.9%, while Dogecoin (DOGE) and Tron (TRON) both slipped 0.4%.
Shares of crypto-linked stocks saw modest gains. Strategy’s stock rose nearly 1% in pre-market trade, while miners Riot Platforms (RIOT) and Marathon Digital (MARA) shares each gained around 1.5%.
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