Blackrock’s iShares Bitcoin Trust has amassed 100,000 bitcoins under administration. On February 13th, iShares Bitcoin Trust became the first spot Bitcoin ETF in the United States to reach 105,280 BTC in managed assets on the 22nd day of trading.
BlackRock has demonstrated aggressive buying behavior since its launch on January 11, 2024, alongside 10 other issuers, multiplying IBIT’s holdings by over 3,700%. The ETF’s assets under management have skyrocketed from just 2,621 BTC at launch to over 100,000 BTC within one month.
IBIT is among nine spot Bitcoin ETFs that have been actively expanding their holdings since their launch. The Fidelity Wise Origin Bitcoin Fund (FBTC) is another ETF with significant growth, amassing 83,925 BTC as of February 13th.
Bitcoin’s price has climbed to a record high of nearly $52,000 after it surpassed $50,000 a few days ago. On February 14, Bitcoin reached a market cap of a trillion dollars.
The iShares Bitcoin Trust (IBIT) approval by the United States Securities and Exchange Commission (SEC) marks a significant milestone, indicating the increasing confidence of institutional investors in Bitcoin as an asset class.
The trend clearly shows that Bitcoin is no longer seen as a pure digital currency. Rather, it’s being seen as a noteworthy asset class, suggesting that the adoption of cryptocurrency and blockchain technology is way beyond its early stages.
Also Read: BlackRock’s IBIT Surpasses GBTC in Daily Bitcoin ETF Trading
