In a groundbreaking achievement, BlackRock, the world’s largest asset management firm, has reported that its spot Bitcoin Exchange-Traded Fund (ETF), the iShares Bitcoin Trust (IBIT), has successfully amassed over 100,000 BTC. This solidifies BlackRock Bitcoin ETF’s position as the first spot ETF to reach this historic milestone.
According to the data by BlackRock, IBIT has raked in 105,280 BTC, setting its holdings apart from the other asset management firms with similar offerings. On the other hand, other firms, including Fidelity, Bitwise, ARK 21Shares, and Franklin Templeton, are also performing well.
BlackRock Bitcoin ETF Makes History, Again
On the 22nd day of trading, the iShares Bitcoin Trust achieved a significant milestone as the first spot Bitcoin ETF in the United States to surpass 100,000 BTC in managed assets. Notably, this accomplishment sets it apart from nine other spot Bitcoin ETFs, with the exclusion of the Grayscale Bitcoin Trust ETF (GBTC).
It is important to note that since the launch of IBIT on January 11, along with other ten spot Bitcoin ETFs, BlackRock has multiplied the holdings of iShares Bitcoin Trust by more than 3,700%. The assets under management (AUM) of the offering skyrocketed from just 2,621 BTC on January 11 to 100,000 BTC on February 13.
Additionally, IBIT achieved this significant milestone in BTC holdings at the same time when spot Bitcoin ETFs made another record for daily net inflows since their launch.
Data from Farside Investors reveals that the combined daily inflows from the 10 spot Bitcoin ETFs reached an impressive $631.3 million, with the iShares Bitcoin ETF securing the lion’s share at $493 million alone.
Interestingly, BlackRock’s Chief Investment Officer, Rick Rieder, recently said that his firm has bigger plans for Bitcoin, noting:
“As you get more and more people that adopt it as an asset, we think the upside potential is real.”
Other ETFs Trying to Catch Up
Other spot Bitcoin ETFs have performed fairly well, with the Fidelity Wise Origin Bitcoin Fund (FBTC) amassing 83,925 BTC as of February 13. However, the Grayscale Bitcoin Trust (GBTC) is the only BTC ETF that has been actively dumping bitcoin since it secured the approval of the United States Securities and Exchange Commission (SEC) on January 10.
Following its debut with 619,220 BTC in managed assets, GBTC underwent a 25% reduction, bringing its holdings down to 463,475 BTC as of February 13.
The significant inflow in spot BTC ETFs coincided with bitcoin breaking above the $50,000 price tag and reclaiming the $1 trillion market capitalization. According to the data from CoinMarketCap, as of 07:00 AM ET on Thursday, BTC is up more than 3% and is priced at $52,270. Further, in the past seven days, the leading digital asset has increased by more than 20%, data shows. The market cap of Bitcoin currently stands at $1.08 trillion.
As per a report from Grayscale, the upcoming Bitcoin halving will play a crucial role in bitcoin’s price trajectory. “Bitcoin is not just surviving; it’s evolving,” said Grayscale’s report, while adding:
“While it [Bitcoin] has long been heralded as digital gold, recent developments suggest that Bitcoin is evolving into something even more significant. Propelled by a surge in onchain activity, bolstered by significant market structure momentum, and underscored by its inherent scarcity, Bitcoin has shown its resilience.”
