BlackRock's Bitcoin ETF, iShares Bitcoin Trust (IBIT), has broken new ground by holding more than 100,000 BTC. As of February 13, the trust reported 105,280 BTC, shooting past other U.S. Bitcoin funds within just three weeks of its start.
From its first day on January 11, 2024, IBIT's Bitcoin count has shot up by 3,700%. It started with 2,621 BTC and quickly hit the 100,000 BTC mark. This surge puts BlackRock in a strong spot in the Bitcoin landscape.
Close behind is the Fidelity Wise Origin Bitcoin Fund with 83,925 BTC. Grayscale’s Bitcoin ETF, however, has been selling off despite high starting holdings.
BlackRock's ETF leads the run in a record-setting rush of money into Bitcoin funds—a whopping $631.3M in one day, with IBIT drawing $493M. This milestone happens as Bitcoin itself jumps in value, crossing $51,000 for the first time since November 2021. At the time of writing, bitcoin is back to a market worth of $1T.
It is still too early to determine the impact of BTC ETFs. However, everything points to strong positive numbers and a lot of institutional interest.
