BlackRock’s iShares Bitcoin Fund Rockets Beyond 700K BTC, Marking Historic Growth

BlackRock’s iShares Bitcoin ETF Hits 700,000 BTC, Ranks Among Firm’s Top Revenue Earners

BlackRock’s iShares Bitcoin Trust (IBIT) has achieved a major milestone, surpassing 700,000 bitcoin in holdings—a sum valued at roughly $76 billion based on current prices around $108,733, according to Glassnode data.

Launched only 18 months ago, IBIT’s rapid rise has propelled it past several of BlackRock’s major ETFs, including the iShares Core S&P 500 ETF (IVV), which tracks the U.S. large-cap market, and the iShares Russell 2000 ETF (IWM), focused on small-cap stocks.

The trust’s bitcoin holdings now significantly outstrip those of Strategy (MSTR), which owns about 600,000 BTC accumulated since 2020. IBIT also holds more than triple the bitcoin of Fidelity’s FBTC (203,000 BTC) and nearly four times that of Grayscale’s GBTC (184,000 BTC).

“New milestone, iShares Bitcoin ETF now holds over 700,000 BTC. 700,000 Did this in 18 months. Ridiculous,” wrote Nate Geraci, president of The ETF Store, in a post on X.

The arrival of U.S. spot bitcoin ETFs in January 2024 marked a historic event, quickly becoming the most successful ETF launches on record and attracting $50 billion in net inflows so far.

IBIT’s explosive growth has vaulted it into BlackRock’s top tier, ranking as the firm’s third-largest revenue generator among nearly 1,200 ETF products. Bloomberg’s senior ETF analyst Eric Balchunas underscored the remarkable pace of IBIT’s rise within BlackRock’s expansive fund lineup.