Quick Takeaways
- BlackRock’s Bitcoin ETF (IBIT) now holds over 800,000 BTC, worth more than $100 billion.
- A steady stream of inflows added $4.1 billion in just seven days.
- IBIT owns nearly 4% of all Bitcoin, more than any public company.
BlackRock’s Bitcoin ETF Just Made History
In less than two years, BlackRock’s Bitcoin ETF, known as IBIT, has hit a massive milestone: over 800,000 BTC in assets under management.
That’s roughly $100 billion worth of Bitcoin, an incredible figure, especially considering the fund only launched in January 2024.
To put that in perspective, IBIT now holds more Bitcoin than MicroStrategy, the software company led by Michael Saylor, long considered the biggest corporate Bitcoin bull.
MicroStrategy has around 640,000 BTC; BlackRock now has over 802,000, and they’re just getting started.
Just this week, IBIT saw a $426 million daily inflow, adding more than 3,500 BTC in a single day. That’s what pushed them over the 800K mark.
So Why Are Investors Flooding Into BlackRock’s Bitcoin ETF?
One word: confidence.
IBIT is part of a broader wave of U.S. spot Bitcoin ETFs, and they’re all seeing massive demand right now.
But BlackRock’s Bitcoin ETF is clearly leading the pack, pulling in more than $4.1 billion in new money over just the past week.
In total, all the U.S. Bitcoin ETFs combined attracted about $5.7 billion during the same seven-day stretch. But IBIT alone made up the lion’s share of that.
Bloomberg’s senior ETF analyst Eric Balchunas pointed out that IBIT brought in $3.5 billion last week alone. That’s 10% of all ETF flows across the entire market, crypto or not.
Even Grayscale’s GBTC, which has struggled with outflows for months, managed to turn things around and post net inflows. That’s a strong signal of renewed interest across the board.
On Monday, Bitcoin ETFs had their biggest day of inflows since last November, when Donald Trump’s pro-crypto stance helped him win the presidency. Clearly, political winds and investor optimism are blowing in Bitcoin’s favor again.
BlackRock’s Bitcoin ETF Is Changing the Game
This is a significant moment for the whole cryptocurrency industry, not just for BlackRock. CEO Larry Fink claims that BlackRock’s Bitcoin ETF is currently among the ETFs with the fastest growth rates in history.
And it’s not just growing in size, it’s helping bring credibility and structure to crypto investing.
Back in March, when the fund hit 250,000 BTC, Bitcoin was trading around $69,000.
Fast forward to now, and Bitcoin is sitting at about $121,500, a 76% gain. So not only has IBIT grown fast, but it’s done so while Bitcoin itself has been surging.
There’s also less short-term fear in the market. Geopolitical risks have eased a bit thanks in part to new peace talks in the Middle East and that’s giving traders more confidence heading into Q4.
More importantly, Bitcoin is starting to be seen as more than just a speculative asset. As one analyst put it, “Bitcoin is becoming a strategic reserve asset.” That’s a big shift in narrative, and IBIT is a huge part of that story.
Institutional Investors Are All In on Bitcoin
Let’s be real: most average investors aren’t buying tens of thousands of BTC. But BlackRock is doing it on their behalf through a safe, regulated, and tax-efficient vehicle.
That’s what’s making ETFs like IBIT so attractive.
So far, U.S. Bitcoin ETFs have pulled in nearly $63 billion in total net inflows.
IBIT alone accounts for $65 billion which actually offsets the outflows that Grayscale has seen since converting its trust to an ETF. At this point, BlackRock’s Bitcoin ETF isn’t just participating in the market, it’s shaping it.
