In just 18 months, it has amassed 700,000 bitcoins, with an asset scale reaching $76 billion.
BlackRock's iShares Bitcoin Trust (IBIT) has set a historic milestone, officially surpassing 700,000 bitcoins held, with assets under management reaching $76 billion. This achievement comes just 18 months after the fund's launch in January 2024, demonstrating strong demand from institutional investors for bitcoin.
Source: K33 Research. BlackRock's iShares Bitcoin Trust (IBIT) has set a historic milestone, officially surpassing 700,000 bitcoins held.
According to Glassnode data, IBIT currently holds 700,439 bitcoins, far surpassing MicroStrategy's 597,000 holdings, which have been acquired since 2020. In comparison, Fidelity's FBTC holds 203,000, while Grayscale's GBTC holds 184,000 bitcoins.
ETF Store President Nate Geraci exclaimed on social media: 'New milestone, the iShares Bitcoin ETF now holds over 700,000 BTC, achieving this figure in just 18 months, that's amazing.'
Bloomberg senior ETF analyst Eric Balchunas noted that IBIT has become BlackRock's third-largest revenue-generating ETF, standing out among the company's 1,197 funds, just $9 billion away from becoming the top revenue source. Since its launch, the fund has achieved a total return of 82.67% and has also performed well in trading activity, accounting for 80% of the total trading volume of U.S. spot bitcoin ETFs on a single trading day.
Closing in on Nakamoto's holdings record, expected to become the world's largest holder by 2026.
More notably, IBIT is gradually closing in on the holdings of bitcoin's creator, Satoshi Nakamoto. It is estimated that Nakamoto holds about 1.12 million bitcoins, which have never moved since bitcoin's inception. Balchunas' analysis indicates that BlackRock has now reached 62.5% progress toward surpassing Nakamoto's holdings.
Source: Shaun Edmondson. Satoshi Nakamoto holds about 1.12 million bitcoins, and BlackRock has now reached 62.5% progress toward surpassing Nakamoto's holdings.
Calculating based on IBIT's current pace of purchasing about 40,000 bitcoins per month, or about 1,300 per day, if this trend continues, the fund is expected to surpass Nakamoto in May 2026, becoming the world's largest single bitcoin holder. This would be a historic moment, symbolizing a fundamental shift in the ownership structure of bitcoin from individual holdings to institutional dominance.
The total holdings of U.S. spot bitcoin ETFs have now reached approximately 1.25 million bitcoins, valued at about $135 billion, accounting for nearly 6% of the total supply of 21 million bitcoins. IBIT alone occupies 56% of the total assets under management of these ETFs, exceeding Strategy's 597,325 bitcoin holdings.
U.S. bitcoin ETF inflows have surpassed the $50 billion mark.
The overall performance of the U.S. spot bitcoin ETF market has been strong, with cumulative net inflows exceeding the $50 billion milestone. According to data compiled by The Block, these ETFs have seen an additional $1.2 billion in inflows over the past three trading days.
Source: (The Block) Bitcoin ETFs have seen an additional $1.2 billion in capital inflows over the past three trading days.
IBIT also leads in total capital inflows, attracting $52.9 billion in net inflows since its launch in 2024. In comparison, other funds have seen net outflows offset by approximately $23.3 billion from Grayscale's GBTC. Notably, GBTC's bitcoin holdings have significantly decreased from around 619,000 to 184,000 since converting to an ETF, a decline of 70%.
Fidelity's FBTC product has also surpassed GBTC, becoming the second-largest spot bitcoin ETF, holding over 200,000 bitcoins. This ranking change reflects a shift in investor preference toward newer ETFs with lower fees and more efficient management.
Institutional dominance trends have sparked discussions on structural changes in the market.
The massive influx of institutional investors like BlackRock is reshaping the ownership structure and market dynamics of bitcoin. Besides ETFs, other major holders include Binance with 592,000, large holdings by the U.S. and Chinese governments, as well as holdings from major exchanges like Upbit, Block One, Bitfinex, Robinhood, and Kraken.
This shift toward institutional control has triggered differing opinions among market participants:
Supporters argue that institutional participation represents market maturation, providing a more stable investment channel;
Critics, however, worry that this goes against the original idea of bitcoin's decentralization.
Analyst IncomeSharks recently stated: 'I still wish bitcoin had never had an ETF; its volatility is now lower than most stocks, losing trading appeal. We've traded exciting volatility for boring stability, which is exactly what Wall Street institutions want.'
'I am the strongest alone! BlackRock ETF holds over 700,000 BTC, becoming the largest spot fund in the U.S.' This article was originally published on 'Crypto City'.
