BlackRock’s iShares Bitcoin Trust (IBIT) has exceeded 700,000 BTC in holdings, cementing its leadership in the U.S. spot Bitcoin ETF market. With approximately $80 billion in assets under management, IBIT now represents about 55% of all Bitcoin held by U.S. spot Bitcoin ETFs.
The trust has generated $187.2 million in annual fee revenue, outperforming BlackRock’s S&P 500 ETF (IVV) despite its smaller asset base. ETF Store president Nate Geraci characterized IBIT’s accumulation of 700,000 BTC within 18 months as ‘ridiculous,’ highlighting its unprecedented growth trajectory.
Complementing this success, BlackRock’s Ethereum ETF is approaching $5 billion in assets under management. IBIT’s performance has also attracted global institutional interest, with entities like Italy’s UniCredit integrating the fund into their crypto investment offerings.