BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has surpassed 100,000 BTC under management.
According to official data by BlackRock, IBIT amassed 105,280 BTC in holdings on Feb. 13. The iShares Bitcoin Trust became the first spot Bitcoin ETF in the United States to reach 100,000 BTC in managed assets on the 22nd day of trading, among the other nine spot Bitcoin ETFs, excluding Grayscale Bitcoin Trust ETF (GBTC).
The news marks a significant achievement in BlackRock’s aggressive BTC buying since the firm launched its spot Bitcoin ETF on Jan. 11, 2024, alongside other 10 issuers.
BlackRock has multiplied the iShares Bitcoin Trust’s holdings by more than 3,700% since debuting IBIT in January, as its assets under management have grown from just 2,621 BTC on Jan. 11 to 100,000 BTC on Feb. 13.
The iShares Bitcoin ETF is one of nine spot Bitcoin ETFs that has been actively growing its holdings since launch, including the Fidelity Wise Origin Bitcoin Fund (FBTC), which amassed 83,925 BTC as of Feb. 13.
The Grayscale Bitcoin Trust ETF (GBTC) has emerged as the only spot Bitcoin ETF that has been actively dumping BTC following the historic spot Bitcoin ETF launch in the United States. After debuting trading with 619,220 BTC in managed assets, GBTC reduced its holdings by 25%, or to 463,475 BTC by Feb. 13.
Cointelegraph approached BlackRock for a comment regarding IBIT’s 100,000-BTC holdings milestone but, at the time of publication, had yet to receive a response.
Related: BlackRock and Fidelity Bitcoin ETFs reach top 10 in January flows
IBIT’s BTC holdings milestone came amid spot Bitcoin ETFs posting another record in terms of daily net inflows since launch. According to data from Farside Investors, combined daily inflows from 10 spot Bitcoin ETFs totaled $631.3 million, with $493 million flowing to the iShares Bitcoin ETF alone.
Bitcoin ETF flows in U.S. dollars. Source: Farside Investors
According to some crypto observers online, BlackRock might have been struggling to match the demand from the massive inflows into the iShares Bitcoin ETF recently.
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