BlackRock’s IBIT Now Holds 55% of US Bitcoin ETF Supply, Nears $76B in Assets
BlackRock’s iShares Bitcoin Trust (IBIT) has reached a major milestone, officially surpassing 700,000 BTC in holdings—valued at over $76 billion—just 18 months after its launch in January 2024. The surge reflects a growing institutional appetite for spot Bitcoin exposure via regulated ETFs.
On July 3, BlackRock’s official iShares data reported that IBIT had amassed 698,919 BTC. Following the U.S. Independence Day holiday, an additional 1,510 BTC was added, bringing the total to 700,307 BTC. The updated figure was confirmed by Thomas Fahrer of Apollo and echoed by K33 Research analyst Vetle Lunde on social media.
IBIT now leads all U.S.-listed spot Bitcoin ETFs in both assets under management and trading activity. It accounts for more than half of all BTC held across these funds, which together store around 1.25 million BTC—roughly 6% of Bitcoin’s circulating supply, according to CoinGlass.
In terms of financial performance, IBIT has delivered an 82.67% return since launch and is now BlackRock’s third-highest revenue-generating ETF. It’s less than $9 billion away from overtaking the firm’s top earner, as noted by Bloomberg ETF expert Eric Balchunas.
Trading volume has also been a key driver of IBIT’s rise. On Monday alone, the fund captured nearly 80% of the $2.9 billion traded among all U.S. Bitcoin ETFs. Its competitors—including Fidelity’s FBTC and Grayscale’s GBTC—lag. Fidelity now holds over 200,000 BTC, while Grayscale’s holdings have dropped significantly, from 619,220 BTC pre-conversion to 184,226 BTC today.
Since the beginning of 2024, Bitcoin ETFs in the U.S. have collectively attracted over $50 billion in net inflows, with IBIT accounting for the lion’s share at nearly $53 billion. Much of this demand has come from institutions and has been amplified by MicroStrategy’s ongoing Bitcoin accumulation, which—along with ETF inflows—has outpaced the rate of new BTC mined in most months this year.
Regulators are also signalling a more favourable stance. The SEC is reportedly preparing to streamline ETF approval timelines, potentially reducing the process to as little as 75 days. Meanwhile, the recent launch of the REX-Osprey SOL Staking ETF marks another step in expanding crypto ETF offerings beyond Bitcoin and Ethereum.
