As BackRock’s Bitcoin ETF continues to break records, it now holds 700,000 BTC under management. A look back at these extraordinary figures.
BlackRock’s Bitcoin ETF now holds 700,000 BTC
Since its launch in January 2024, BlackRock’s Bitcoin spot ETF has continued to surprise with its extraordinary performance. The clear leader in its category, IBIT has now surpassed the symbolic milestone of 700,000 BTC under management, as noted by Bitcoin enthusiast Thomas Fahrer on X:
However, depending on the data source, we can see variations in the exact amount of assets under management. Bitcoin Treasuries puts the total at 698,919 bitcoins, while SosoValue and Coinglass are slightly more optimistic.
While SosoValue puts net assets at $75.76 billion, dividing this by the closing price of BTC at the close of trading in New York gives a figure of just under 701,900 units, while Coinglass’s calculation gives a result of nearly 707,000 BTC.
Despite this variation of around 1%, this does not detract from the records set by IBIT, some of which were recently highlighted by Eric Balchunas, ETF specialist at Bloomberg. On June 9, for example, IBIT became the fastest ETF in history to break the $70 billion mark. Achieving this in 341 days, it is almost five times faster than GLD, which previously held the record at 1,691 days. On July 3, the ETF also became the third of BlackRock’s 1,197 funds to generate the most revenue.
Meanwhile, BTC is trading at $108,500 at the time of writing, down 0.3% over 24 hours.
