Asset manager and ETF issuer BlackRock has been steadily stacking Bitcoin, pushing its holdings to new highs. BlackRock’s iShares Bitcoin Trust (IBIT) now holds over 700,000 BTC (BTC), accounting for roughly 55% of the total Bitcoin held across all US…Asset manager and ETF issuer BlackRock has been steadily stacking Bitcoin, pushing its holdings to new highs. BlackRock’s iShares Bitcoin Trust (IBIT) now holds over 700,000 BTC (BTC), accounting for roughly 55% of the total Bitcoin held across all US…

BlackRock hits 700K BTC milestone with latest purchase

Asset manager and ETF issuer BlackRock has been steadily stacking Bitcoin, pushing its holdings to new highs.

BlackRock’s iShares Bitcoin Trust (IBIT) now holds over 700,000 BTC (BTC), accounting for roughly 55% of the total Bitcoin held across all US spot Bitcoin ETFs. Valued at over $80 billion at current prices, the milestone follows its latest purchase of 1,388 BTC as part of its ongoing aggressive accumulation, according to ApolloSats co-founder Thomas Fahrer.

IBIT has recorded immense success since launched, amassing $76 billion in assets under management (AUM) and accounting for 96% of net inflows across all Bitcoin ETFs to date. The fund has constantly reinforced its position as a top performer among the investment products that debuted in January 2024, now generating more annual revenue than BlackRock’s long-standing S&P 500 ETF, IVV.

Despite IVV holding significantly more AUM at $624 billion, the Bitcoin fund has turned into a bigger moneymaker for the world’s largest asset manager, earning $187.2 million in annual fees over the other’s $187.1 million.

With its portfolio milestone, BlackRock ranks among the largest Bitcoin holders globally, surpassing even top corporate holders like Strategy, Tesla, and Coinbase.

Several industry figures have called the milestone remarkable. ETF Store president Nate Geraci reacted to the news on X, noting that the 700,000 BTC milestone in just 18 months is “ridiculous.” 

BlackRock also led the latest wave of Bitcoin ETF inflows on July 7, pulling about $165 million of the total $217 million recorded, according to SoSoValue data.

IBIT’s rapid rise has started to attract global attention. Recently, Bloomberg reported that Italy’s UniCredit SpA plans to launch a five-year, dollar-denominated investment certificate tied to IBIT for professional investors. The product will offer exposure to digital assets without requiring direct crypto custody or wallets.

Meanwhile, BlackRock’s Ethereum ETF is also gaining momentum, posting steady inflows and nearing $5 billion in AUM.

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