IBIT Hits 700,000 BTC—Blackrock’s Grip on Bitcoin Tightens
Bitcoin.com
News Bytes
Fresh spot bitcoin exchange-traded fund (ETF) numbers show Blackrock’s IBIT has hit a major milestone—after pulling in $164.64 million in inflows on Monday, the fund now holds a massive 700,000 BTC.
Blackrock’s Ishares Bitcoin Trust (IBIT) just crossed a significant threshold, holding more than 700,000 BTC, worth roughly $76 billion. That puts IBIT at the top of the spot bitcoin ETF leaderboard, owning more than percent of the total BTC across all U.S.-based spot ETFs. The fund stacked this position in just months since its January 2024 debut, highlighting powerful institutional appetite and consistent investor contributions.
IBIT’s momentum has outpaced not only bitcoin’s mining supply but also the growth trajectories of other big players like Strategy and Fidelity. It’s performing so well, in fact, that it now brings in more revenue for Blackrock than its longtime staple, the Ishares Core S&P 500 ETF—pointing to a shifting tide toward digital assets. Still, this growing concentration in Blackrock’s hands is sparking plenty of chatter in the crypto world, with folks questioning what it might mean for bitcoin’s liquidity, price swings, and who really has influence over the market.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings