BlackRock’s bitcoin ETF surpasses 800,000 BTC in assets under management after $4 billion inflow streak
BlackRock's IBIT spot bitcoin exchange-traded fund crossed 800,000 BTC ($97 billion) in assets under management on Wednesday, less than two years after trading began in January 2024.
BlackRock's bitcoin ETF had already accumulated over 798,747 BTC as of Oct. 7, according to its latest fund disclosures. IBIT's $426.2 million worth of net inflows yesterday was enough to tip it over the milestone, reaching approximately 802,198 BTC — 3.8% of bitcoin's total 21 million supply.
For context, that puts BlackRock's holdings on behalf of its clients strongly ahead of the leading bitcoin treasury company, Michael Saylor's Strategy, which holds 640,031 BTC — worth around $78 billion — accounting for 3.1% of total supply.
The combined U.S. spot bitcoin ETFs attracted another $440.7 million on Wednesday, adding to an eight-day run totaling more than $5.7 billion, according to data compiled by The Block. IBIT's seven-day positive run has generated over $4.1 billion worth of net inflows alone.
"The eight-day streak of ETF inflows underscores persistent structural demand, while corporate treasury participation continues to expand, adding ballast to bitcoin's narrative as a strategic reserve asset," BRN Head of Research Timothy Misir told The Block. "Meanwhile, easing geopolitical risk via the Trump-brokered Middle East peace framework has reduced short-term volatility, giving traders a clearer runway into Q4."
Hungry fish
"IBIT is #1 in weekly flows among all ETFs w/ $3.5 billion which is 10% of all net flows into ETFs," Bloomberg Senior ETF Analyst Eric Balchunas noted on X ahead of Wednesday's flow data. "Also notable is the rest of the 11 OG spot BTC ETFs all took in cash in the past week, even GBTC somehow, that's how hungry the fish are. Two steps forward mode. Enjoy while it lasts."
ETF flow data. Image: Bloomberg.
On Monday, the bitcoin ETFs attracted their largest daily haul since pro-crypto Trump won the U.S. presidential election last November — bringing in $1.21 billion. The U.S. spot bitcoin ETFs have now registered nearly $63 billion in inflows since their debut, with IBIT bringing in $65 billion and net outflows from Grayscale's converted fund offsetting the total.
"Spot BTC ETFs on an all-time heater… Have taken in absurd *$5.3 billion* over the past 7 trading days. $2 billion just over the past two days," NovaDius Wealth Management President Nate Geraci added. "I remember when people thought the entire category would top out at $5 billion total assets."
BlackRock's bitcoin ETF previously surpassed the 500,000 BTC mark last December, rapidly becoming the third-strongest U.S. ETF instrument in its first year. Speaking to Fox Business after IBIT crossed the 250,000 BTC level in March 2024, BlackRock CEO Larry Fink said, "IBIT is the fastest-growing ETF in the history of ETFs," adding his surprise at how much bitcoin had gone up.
Bitcoin was trading for approximately $69,000 at the time and has since gained a further 76%, currently changing hands for around $121,500, according to The Block’s BTC price page.
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