BlackRock’s IBIT Smashes Records with 700,000 BTC in Holdings

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BlackRock’s IBIT Bitcoin ETF has reached a staggering 700,000 BTC ($76 billion) in assets under management, cementing its dominance in the crypto ETF space.

Launched in January 2024, IBIT has seen relentless demand, adding 1,510 BTC in a single day (July 7) to cross the threshold. Analysts like Vetle Lunde (K33 Research) and Nate Geraci (NovaDius Wealth) called the growth “ridiculous” for an 18-month-old fund.

Notably, IBIT is now BlackRock’s third-most profitable ETF, trailing the top spot by just $9 billion. It also dethroned Grayscale’s GBTC in AUM over a year ago and hasn’t looked back—proving institutional Bitcoin demand is stronger than ever.