BlackRock is making major waves in the crypto space, steadily ramping up its Bitcoin stash and hitting new highs.<\/p>\n\n\n\n
The asset management giant\u2019s iShares Bitcoin Trust (IBIT) now holds over 700,000 BTC, which accounts for around 55% of all Bitcoin held across U.S. spot Bitcoin ETFs. At current market prices, that stash is worth more than $80 billion. The milestone comes after BlackRock\u2019s latest purchase of 1,388 BTC, part of its ongoing and aggressive accumulation strategy, as highlighted by ApolloSats co-founder Thomas Fahrer.<\/p>\n\n\n\n
Since launching in January 2024, IBIT has seen explosive growth, amassing $76 billion in assets under management (AUM). It\u2019s also dominated net inflows, pulling in 96% of all the new money flowing into Bitcoin ETFs so far. The fund has quickly risen to become one of BlackRock\u2019s star performers so much so that it\u2019s now generating more annual revenue than the firm\u2019s long-established S&P 500 ETF, known as IVV.<\/p>\n\n\n\n
Interestingly, despite IVV holding far more total assets about $624 billion the Bitcoin fund has become a bigger moneymaker for BlackRock. IBIT has raked in $187.2 million in annual fees, just edging out the $187.1 million brought in by IVV.<\/p>\n\n\n\n
This huge Bitcoin stockpile puts BlackRock among the world\u2019s largest Bitcoin holders, overtaking major corporate players like MicroStrategy, Tesla, and Coinbase.<\/p>\n\n\n\n
The milestone has caught the attention of many in the financial world. Nate Geraci, president of The ETF Store, took to X to call the accumulation of 700,000 BTC in just 18 months \u201cridiculous,\u201d underlining just how quickly IBIT has grown.<\/p>\n\n\n\n
BlackRock also spearheaded the latest wave of Bitcoin ETF inflows on July 7, pulling in roughly $165 million of the day\u2019s $217 million total, according to data from SoSoValue.<\/p>\n\n\n\n
IBIT\u2019s rapid success is turning heads internationally as well. Bloomberg recently reported that Italy\u2019s UniCredit SpA is planning to launch a five-year, dollar-denominated investment certificate tied to IBIT, aimed at professional investors. The product would allow exposure to digital assets without the need for direct crypto custody or personal crypto wallets.<\/p>\n\n\n\n
Meanwhile, BlackRock isn\u2019t just focusing on Bitcoin. Its Ethereum ETF is steadily gaining momentum too, closing in on $5 billion in AUM as investor interest continues to grow.<\/p>\n\n\n\n
BlackRock\u2019s aggressive move into crypto ETFs signals that traditional finance\u2019s biggest players are here to stay in the digital asset game and they\u2019re reshaping the landscape at lightning speed.<\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock is making major waves in the crypto space, steadily ramping up its Bitcoin stash and hitting new highs. The asset management giant\u2019s iShares Bitcoin Trust (IBIT) now holds over 700,000 BTC, which accounts for around 55% of all Bitcoin held across U.S. spot Bitcoin ETFs. At current market prices, that stash is worth more…<\/p>\n","protected":false},"author":3,"featured_media":9910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1115,1374],"class_list":["post-9909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-black-rock","tag-etf-holding"],"yoast_head":"\n