BlackRock’s iShares Bitcoin Trust (IBIT) now has more than 700,000 BTC in assets under management (AUM). This comes after 1,510 BTC in total inflows got in. The spot Bitcoin ETF launched in January 2024 and now holds a value of roughly $76 billion in BTC holdings.
This comes after investors’ growing hunger for regulated crypto products and it helped IBIT reach this major milestone in just 18 months since its launch.
Rapid Growth and Rising Revenue
IBIT gathered 698,919 BTC by July 3 and added the rest through new purchases after the US Independence Day holiday, according to data noted by K33’s head of research, Vetle Lunde.
Market watchers hailed the milestone as evidence of strong demand for Bitcoin ETFs in the United States. Nate Geraci, president of NovaDius Wealth Management, called the achievement “ridiculous” given the short span since launch.
IBIT now ranks third among BlackRock’s 1,197 funds for revenue generation, trailing only two other offerings by about $9 billion in assets, as highlighted by Bloomberg analyst Eric Balchunas.
How IBIT Compares with Others?
The 700,000 BTC held by IBIT far exceeds the holdings of other major listed players. MicroStrategy’s Bitcoin position sits at around 600,000 BTC after it began buying in 2020. Fidelity’s FBTC holds roughly 203,000 BTC.
Grayscale’s GBTC, once the leading Bitcoin fund, has about 184,000 BTC under management. IBIT’s fast build‑out of its Bitcoin holdings underscores how ETFs have reshaped institutional and retail access to crypto assets.
These numbers clearly prove how IBIT is standing out from its competitors or others in the sector. This is a fitting example of how popular ETFs have become across the globe.
Also Read: BlackRock Makes Major Bitcoin Investment with $481 Million Purchase of 4,476 BTC
Regulatory Shifts and ETF Approvals
The US SEC seems to be revising the approval workflow for crypto ETFs. Issuers, for example, would submit a Form S-1 and then sit for a 75-day period during which they could receive a non-objection letter before their ETF is listed.
Less complex routes like these could foster greater launch of fund sponsorship for spot crypto products.
Earlier in July, REX-Osprey launched the first staked crypto ETF in the US which included exposure to Solana tokens and provided staking rewards. This advancement indicates the innovation trend in crypto ETFs as issuers work hard to introduce new structures.
New Bitcoin and Ethereum ETF Proposal
In a separate development, the SEC has officially acknowledged a filing by Trump Media & Technology Group for a Bitcoin and Ethereum ETF. Branded the “Truth Social Bitcoin and Ethereum ETF,” the proposal aims to list on NYSE Arca.
The dual‑crypto mandate would give investors access to both top tokens in one vehicle. The SEC’s acceptance of the filing marks an early step in what could be another high‑profile ETF approval.
What Comes Next?
As IBIT nears $80 billion in Bitcoin holdings, it draws ever closer to being BlackRock’s top‑performing ETF by revenue. Continued inflows will depend on Bitcoin price trends, regulatory clarity, and competition from new entrants.
If the SEC implements the streamlined approval process, more spot crypto ETFs could launch, further watering down or boosting flows depending on fund marketing and fee structures.
IBIT’s climb to over 700,000 BTC shows how quickly a well‑capitalized, reputable asset manager can capture market share in the digital asset space.
Also Read: BlackRock Buys $70.2M Worth of Ethereum, Signaling Growing Institutional Interest