IBIT from Blackrock becomes the second largest holder of Bitcoin
Ishares Bitcoin Trust (IBIT) from Blackrock became the second largest holder of Bitcoin as of May 20, surpassed only by the notorious Satoshi Nakamoto wallet, the ongoing creator of the leading cryptocurrency. According to data compiled by Crypto analyst Shaun Edmondson, IBIT currently holds 636,108 BTC, which represents over 3% of the total Bitcoin supply capped at 21 million and about 57% of Nakamoto's stash of 1.12 million BTC. The best Bitcoin holders (source: Shaun Edmondson) With this, BlackRock now holds more Bitcoin than Binance, the largest cryptocurrency exchange by trading volume, and the largest corporate holder in Bellwether Asset. Bloomberg ETF analyst Eric Balchunas suggested that, depending on Bitcoin's market performance, ETF's Bitcoin holdings could outperform Satoshi's this coming summer. He added that the timeline could accelerate if the asset price approaches $150,000. He stated that such an increase could drive widespread institutional demand, especially from financial advisors reallocating client assets to Bitcoin exposure. Since its launch in January 2024, iBit has become a dominant player in the Bitcoin ETF space. Blackrock Bitcoin ETF key metrics (source: SoSovalue) The fund has consistently outperformed ETFs in flows and asset growth, including traditional vehicles like gold ETFs. Its rise has been fueled by increased demand from institutions and retail investors seeking regulated exposure to Bitcoin. According to data from SoSovalue, BlackRock's IBIT held $66.9 billion in net assets as of May 19, making it the largest Bitcoin ETF by value.
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