BlackRock’s IBIT spot bitcoin ETF has crossed the 800,000 BTC mark in assets under management, less than two years after its launch in January 2024.
The fund now holds roughly $97 billion in bitcoin, representing about 3.8% of the total 21 million BTC supply. This surge in holdings comes after a seven-day stretch with inflows exceeding $4 billion.
ETF inflows accelerate
Recent data shows IBIT adding over 3,510 BTC in a single day, pushing it past the milestone to approximately 802,257 BTC.
Combined U.S. spot bitcoin ETFs attracted an additional $440.7 million on Wednesday, extending an eight-day inflow streak totaling more than $5.7 billion.
IBIT’s net inflows accounted for $4.1 billion of that total, solidifying its position as the top-performing ETF in the category.
To compare, Michael Saylor’s Strategy holds 640,031 BTC, about 3.1% of total supply, making BlackRock’s ETF the clear leader among institutional holders.
Institutional demand and market sentiment
Timothy Misir, Head of Research at BRN, commented on the trend:
“The eight-day streak of ETF inflows underscores persistent structural demand, while corporate treasury participation continues to expand, adding ballast to bitcoin’s narrative as a strategic reserve asset.”
Bloomberg Senior ETF Analyst Eric Balchunas highlighted IBIT’s dominance:
“IBIT is #1 in weekly flows among all ETFs with $3.5 billion, which is 10% of all net flows into ETFs.”
Bitcoin price performance
The surge in ETF demand has coincided with a sharp increase in bitcoin’s price. Since March 2024, when IBIT surpassed 250,000 BTC, bitcoin’s price has climbed from around $69,000 to approximately $121,500, a gain of 76%. For the latest bitcoin price history, visit the bitcoin price history chart.
ETF inflows reshape the market landscape
Since their debut, U.S. spot bitcoin ETFs have seen nearly $63 billion in cumulative inflows, with IBIT alone bringing in $65 billion. Even with some outflows from converted funds like Grayscale, the persistent demand for spot bitcoin ETFs is reshaping institutional participation in the bitcoin market.
