BlackRock’s IBIT Bitcoin ETF Surpasses 700,000 BTC in Record Time

BlackRock’s iShares Bitcoin Trust (IBIT) has officially crossed the 700,000 BTC mark, reinforcing its position as one of the fastest-growing exchange-traded funds in financial history.

Just 18 months after launching in January 2024, IBIT has accumulated over $76 billion in assets under management, according to data published this week.

The fund, which tracks spot BTC holdings, added roughly 1,510 BTC on July 7 following the U.S. Independence Day holiday. This latest inflow pushed IBIT’s total reserves above 700,000 BTC, marking a key milestone for the crypto investment landscape.

A historic launch that changed ETF dynamics

IBIT debuted in January 2024 as part of the first wave of SEC-approved spot Bitcoin ETFs, a watershed moment for institutional crypto adoption. BlackRock’s entry into the space followed months of anticipation and regulatory filings.

Upon launch, IBIT quickly gained traction due to BlackRock’s brand strength, tight fee structure, and secure custody arrangements via Coinbase. Within weeks, it began absorbing billions in flows, outperforming early projections and signaling a shift in Wall Street’s attitude toward digital assets.

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A top performer in BlackRock’s massive portfolio

The success of IBIT has also been felt within BlackRock’s broader fund lineup. Out of 1,197 ETFs operated by the firm, IBIT now ranks as the third highest in revenue generation. According to Bloomberg ETF analyst Eric Balchunas, the fund is just $9 billion away from overtaking BlackRock’s top performer.

This growth underscores the growing role of institutional capital in the crypto sector, particularly as Bitcoin continues to mature into a mainstream financial asset. IBIT’s performance is also contributing to increased competition among ETF issuers, many of whom are eyeing similar spot funds for Ethereum and Solana.

With inflows continuing and regulatory clarity improving, IBIT’s trajectory suggests the line between traditional finance and digital assets is rapidly disappearing—and BlackRock is leading the charge.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.