iShares BTC ETF Sees Bitcoin Holdings Exceed 700K in Unprecedented Surge

BlackRock’s iShares Bitcoin Trust (IBIT) currently holds 700,000 bitcoin, according to Glassnode data, and has accumulated $76 billion in assets under management in just 18 months. This surpasses both the iShares Core S&P 500 ETF (IVV), which tracks the U.S. equity benchmark, and the iShares Russell 2000 ETF (IWM), which tracks the performance of small-cap U.S. stocks. The figures exceed the 600,000 BTC held by Strategy (MSTR), which began purchasing in 2020, and compare with Fidelity FBTC’s 203,000 BTC and Grayscale GBTC’s 184,000 BTC.

“New milestone, iShares Bitcoin ETF now holds over 700,000 BTC. 700,000 Did this in 18 months. Ridiculous,” Nate Geraci, president of The ETF Store, commented in a post on X. The U.S. spot bitcoin exchange-traded funds (ETFs) debuted in January 2024 and have emerged as the most successful ETF introductions of all time, attracting $50 billion in net inflows since inception. IBIT has become the third highest revenue-generating ETF for BlackRock among all its products. Senior Bloomberg ETF analyst Eric Balchunas noted that BlackRock manages a total of 1,197 funds.