BlackRock’s Bitcoin Spot ETF IBIT Holds Over 700,000 BTC Worth $75.5 Billion

As of July 8, BlackRock’s Bitcoin spot ETF (IBIT) has amassed a substantial holding of over 700,000 BTC, with a market valuation nearing $75.5 billion, according to data reported by Cointelegraph. This significant accumulation underscores BlackRock’s strategic positioning within the cryptocurrency investment landscape. Thomas Fahrer, co-founder of Apollo, corroborates these figures, confirming the ETF’s Bitcoin holdings at precisely 700,307 BTC. The scale of these assets highlights the growing institutional adoption of digital assets, reflecting increased confidence in Bitcoin as a portfolio diversifier and store of value. Investors and market analysts are closely monitoring such developments, as they provide critical insights into the evolving dynamics of crypto asset management and institutional inflows.