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BlackRock’s iShares Bitcoin Trust (IBIT) has surged to hold over 700,000 BTC, marking a significant milestone in the US spot Bitcoin ETF market.
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The fund now controls approximately 55% of all Bitcoin held by US spot ETFs, with assets valued at more than $80 billion, reflecting aggressive accumulation strategies.
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According to ApolloSats co-founder Thomas Fahrer, IBIT’s rapid growth has positioned it as a dominant player, generating more annual revenue than BlackRock’s flagship S&P 500 ETF, IVV.
BlackRock’s IBIT reaches 700,000 BTC holdings, dominating US Bitcoin ETFs with $80B AUM and surpassing S&P 500 ETF revenue, signaling strong crypto institutional demand.
BlackRock’s Bitcoin ETF Dominates US Market with Over 700,000 BTC Holdings
Since its launch, BlackRock’s iShares Bitcoin Trust (IBIT) has demonstrated remarkable growth, accumulating more than 700,000 BTC, which represents roughly 55% of the total Bitcoin held across all US spot Bitcoin ETFs. This accumulation, valued at over $80 billion at current prices, underscores BlackRock’s strategic positioning in the digital asset space. The fund’s latest purchase of 1,388 BTC highlights its ongoing commitment to expanding its Bitcoin portfolio aggressively. IBIT’s success is further evidenced by its commanding share of net inflows, accounting for 96% across all Bitcoin ETFs since inception, a testament to investor confidence and institutional demand.
IBIT Outperforms Traditional ETFs, Generating Higher Revenue Than BlackRock’s S&P 500 Fund
Despite the S&P 500 ETF (IVV) holding a substantially larger asset base of $624 billion, IBIT has surpassed it in annual fee revenue, generating $187.2 million compared to IVV’s $187.1 million. This milestone is particularly notable given IBIT’s relatively recent launch in January 2024. The fund’s ability to outperform a long-established equity ETF highlights the growing appetite for cryptocurrency exposure within institutional portfolios. BlackRock’s strategic focus on digital assets is paying dividends, positioning IBIT as a leading investment vehicle in the evolving financial landscape.
Global Impact and Industry Recognition of BlackRock’s Bitcoin ETF Growth
BlackRock’s Bitcoin accumulation has not gone unnoticed within the industry. ETF Store president Nate Geraci described the 700,000 BTC milestone achieved in just 18 months as “ridiculous,” emphasizing the unprecedented pace of growth. Furthermore, BlackRock led a significant wave of Bitcoin ETF inflows on July 7, capturing approximately $165 million of the $217 million total inflows recorded that day. This inflow dominance reinforces IBIT’s position as a market leader and highlights sustained investor interest.
Expansion into New Markets with Innovative Investment Products
IBIT’s rapid rise has attracted global attention, with Bloomberg reporting that Italy’s UniCredit SpA plans to introduce a five-year, dollar-denominated investment certificate linked to IBIT. This product aims to provide professional investors with exposure to digital assets without the complexities of direct crypto custody or wallet management. Such innovations signal growing institutional acceptance and the mainstreaming of cryptocurrency investment vehicles, expanding access beyond traditional markets.
BlackRock’s Ethereum ETF Gains Traction Alongside Bitcoin Fund
In addition to IBIT’s success, BlackRock’s Ethereum ETF is experiencing steady inflows, approaching $5 billion in assets under management. This growth complements BlackRock’s broader digital asset strategy, offering diversified exposure to leading cryptocurrencies. The simultaneous momentum in both Bitcoin and Ethereum ETFs illustrates a comprehensive approach to capturing the expanding demand for crypto investment products among institutional and professional investors.
Conclusion
BlackRock’s iShares Bitcoin Trust has established itself as a dominant force in the US Bitcoin ETF market, achieving unprecedented accumulation and revenue milestones within a short timeframe. The fund’s ability to outperform traditional equity ETFs and attract substantial inflows reflects a significant shift towards institutional adoption of digital assets. With innovative products emerging globally and complementary growth in Ethereum ETFs, BlackRock is well-positioned to lead the evolving crypto investment landscape. Investors and market participants should closely monitor these developments as they signal broader acceptance and integration of cryptocurrencies into mainstream finance.
