Key Takeaways
- BlackRock's IBIT ETF now holds over 700,000 BTC, the largest among spot bitcoin ETFs.
- IBIT represents approximately 56% of all U.S. spot bitcoin ETF assets, totaling 1.25 million BTC.
- U.S. spot bitcoin ETFs have surpassed $50 billion in cumulative net inflows, with IBIT leading both assets and trading volume.
BlackRock’s IBIT spot bitcoin exchange-traded fund has achieved a major milestone, surpassing 700,000 BTC (valued at $76 billion) in assets under management just 18 months after launching in January 2024.
By July 3, IBIT had accumulated 698,919 BTC, and following net inflows of 1,510 BTC on July 7, it crossed the 700,000 BTC threshold after the U.S. Independence Day holiday.
This accomplishment was noted by K33 Head of Research Vetle Lunde, and further celebrated by industry figures. Nate Geraci, president of NovaDius Wealth Management, remarked:
“New milestone… iShares Bitcoin ETF now holds over 700,000 BTC. 700,000 in 18 months. Ridiculous.”
Rankings
IBIT is now the third highest revenue-generating ETF for BlackRock among its 1,197 funds and is only $9 billion away from being its top fund, according to Bloomberg analyst Eric Balchunas.
The ETF overtook Grayscale’s GBTC by assets under management a year ago, outpacing the converted private fund that previously led the market.
Meanwhile, Fidelity’s FBTC has also surpassed GBTC for the second spot, with over 200,000 BTC in AUM, while GBTC’s holdings have fallen sharply to 184,226 BTC.
Collectively, U.S. spot bitcoin ETFs now hold approximately 1.25 million BTC ($135 billion), accounting for nearly 6% of bitcoin’s total 21 million supply.
IBIT alone represents about 56% of those ETF holdings, far exceeding the stacks of other competitors like Strategy.
In addition, U.S. spot bitcoin ETFs have reached a $50 billion cumulative inflow milestone, with IBIT leading in total inflows since its debut.
IBIT also dominates trading volume, making up around 80% of the $2.9 billion traded on Monday.
