BlackRock’s Bitcoin ETF Surpasses 300,000 BTC!

BlackRock is not kidding with its Bitcoin ETF!

It is clear that BlackRock is overcoming symbolic barriers one by one. After 100,000, then 200,000, it is now 300,000 BTC, which was surpassed by a fund management company’s Bitcoin ETF. This incredible result was achieved in just 5 months after Bitcoin ETFs opened for trading. An impressive feat, especially considering the equally stellar track record of other mutual funds.

In fact, because if we combine the performance of BlackRock with the performance of Fidelity, ARK 21Shares or even Bitwise, the number of BTC held is even more.

For the next : how to buy bitcoins? Everything you need to know about BTC.

The company is not stopping BTC purchases

Right now, BlackRock’s pace is frantic. No less than 4,920 BTC have actually been purchased since this Thursday, June 6th. As of June 6, 2024, BlackRock has purchased over 302,539 BTC on behalf of its clients. This performance makes IBIT the crypto ETF that holds the most bitcoins in the world.

Blackrock ETF
Source: iShare.

All of these assets in BlackRock’s hands are currently valued at $21.42 billion.

Current stats may be impressive for IBIT, but weapon feats are also increasingly numerous. In fact, because in a very short time, BlackRock managed to overtake Grayscale. However, recently the fund management company managed to surpass $20 billion in bitcoins. Finally yesterday, IBIT surpassed 300,000 BTC under management.

In comparison, an older (and very large) investor like MicroStrategy owns “only” 214,400 BTC. A fortune that now seems very modest compared to that of IBIT and its relentless rise.

While the total supply of Bitcoin is limited to 21 million units, BlackRock is already collecting more than 1.44% of the supply on behalf of its clients. Looking at the current circulating supply, the company has collected more than 1.53% of the available tokens.

As for all US ETFs, the CoinGlass report claims they (including BlackRock) hold more than 883,000 BTC.

Moral of the story: The Blue Sea is unlimited, but so are BlackRock purchases!


Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.

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