BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin Exchange Traded Fund (ETF), has crossed 800,000 BTC in assets under management (AuM). Fueled by over $4 billion in sustained inflows, the fund reached this milestone less than two years after its January 2024 debut.
According to the firm’s latest fund disclosure, IBIT had already collected 798,747 Bitcoin (BTC) on October 7. A new net inflow of $426.2 million, or about 3,510 BTC, brought its total holdings to about 802,257 BTC.
This statistic means that the fund now owns almost 3.8% of the 21 million Bitcoin coins that are out there. This number shows how much institutional demand there is for the asset.
BRN Head of Research Timothy Misir noted that the eight-day streak of ETF inflows highlights ongoing structural demand, while growing corporate treasury participation continues to strengthen Bitcoin’s role as a strategic reserve asset.
He added that easing geopolitical tensions through the Trump-brokered Middle East peace framework has reduced short-term volatility, providing traders with a clearer outlook heading into the fourth quarter.
The recent Bitcoin purchase has brought BlackRock’s holdings to 3.8% of the total 21 million BTC supply. Its Bitcoin assets now surpass those of the Strategy, which holds 640,031 BTC, valued at around $78 billion, or 3.1% of the total supply.
These developments also highlight potential concentration risks. Experts caution that when a single fund controls hundreds of thousands of BTC, its trading activity could significantly impact prices or create liquidity challenges during market stress.
Bitcoin market update
At the time of writing, Bitcoin fell 0.62% to $122,215 over the past 24 hours, according to data from CoinMarketCap. It is in contrast with a 2.98% weekly gain. The market cap is $2.44 trillion USD, and there are 19,931,834 BTC coins in circulation. The market cap shows that there is high liquidity in the market with strong market activity.
Also Read: Bitcoin ETF Inflows Surge as Institutional Demand Soars
