BlackRock’s Bitcoin ETF Surpasses 500,000 Bitcoins, Reaching $48 Billion in Assets

According to COINOTAG News on December 3rd, BlackRock’s IBIT fund has achieved a landmark milestone, with its assets under management exceeding 500,000 bitcoins, valued at approximately $48 billion. This remarkable growth occurred less than a year after the fund commenced trading on January 11. Recent disclosures reveal that as of November 29, BlackRock’s Bitcoin ETF had gathered 496,854 bitcoins. Data from K33 indicates that the fund experienced a net inflow of $338.3 million on the previous day, equating to about 3,526 bitcoins, which propelled total assets to 500,380 bitcoins, representing roughly 2.38% of the entire Bitcoin supply of 21 million. Vetle Lunde, Research Director at K33, noted that this achievement marks a considerable milestone in BlackRock’s successful inaugural year, positioning it as the third-largest ETF product in the U.S. with year-to-date inflows exceeding those of the $314 billion Invesco QQQ fund.