BlackRock’s iShares Bitcoin ETF Surpasses 700,000 BTC, Climbing BlackRock’s Revenue Ranks
BlackRock’s iShares Bitcoin Trust (IBIT) has reached an impressive milestone, accumulating over 700,000 bitcoin, valued at roughly $76 billion based on recent prices near $108,733, according to data from Glassnode.
Launched just 18 months ago, IBIT has quickly outgrown some of BlackRock’s most prominent funds, overtaking the iShares Core S&P 500 ETF (IVV), which tracks large-cap U.S. equities, and the iShares Russell 2000 ETF (IWM), focused on small-cap stocks.
The fund’s bitcoin stash now comfortably exceeds the 600,000 BTC held by Strategy (MSTR), which began buying bitcoin back in 2020. It also far outpaces Fidelity’s FBTC, holding around 203,000 BTC, and Grayscale’s GBTC, which holds about 184,000 BTC.
“New milestone, iShares Bitcoin ETF now holds over 700,000 BTC. 700,000 Did this in 18 months. Ridiculous,” commented Nate Geraci, president of The ETF Store, in a post on X.
The arrival of U.S. spot bitcoin ETFs in January 2024 marked a historic moment for the crypto industry, becoming one of the most successful ETF launches ever, drawing in $50 billion in net inflows so far.
Thanks to its rapid asset growth, IBIT has now become the third-largest revenue generator in BlackRock’s vast roster of nearly 1,200 ETFs. Bloomberg’s senior ETF analyst Eric Balchunas highlighted how significant IBIT’s meteoric rise has been within BlackRock’s diverse fund offerings.
