The World's Largest Bitcoin Reached 700,000, Making History!

BlackRock's Bitcoin ETF IBIT surpassed 700,000 Bitcoin (BTC) with a record asset size of $76 billion, just 18 months after its market debut.

Launched in January 2024, BlackRock's IBIT spot Bitcoin ETF had added a total of 698,919 BTC to its portfolio by July 3. K33 Research Director Vetle Lunde noted in a post on the social media platform X that with the new entry of 1,510 BTC on July 7, the fund had surpassed the critical threshold of 700,000 BTC.

Nate Geraci, President of NovaDius Wealth Management, commented, "A new milestone... the iShares Bitcoin ETF now holds over 700,000 BTC. 700,000 BTC in just 18 months. Incredible."

BlackRock's IBIT has risen to become the third highest revenue-generating product among the total of 1,197 ETFs managed by the company.

The Bitcoin assets of GBTC decreased by about 70% after its ETF conversion, dropping from 619,220 BTC to 184,226 BTC.

According to data, all U.S.-based spot Bitcoin ETFs manage a total of approximately 1.25 million BTC, equivalent to about $135 billion. This amount corresponds to about 6% of Bitcoin's total supply of 21 million. IBIT alone accounts for 56% of this figure and manages even more assets than MicroStrategy's reserve of 597,325 BTC (worth $65 billion).

On the other hand, U.S. spot Bitcoin ETFs managed to surpass the cumulative entry barrier of $50 billion with an additional inflow of $1.2 billion over the past three trading days. BlackRock's IBIT continues to lead with a total net inflow of $52.9 billion since the ETFs' debut in 2024.