BlackRock’s IBIT Spot Bitcoin ETF has formally crossed 700,000 BTC in belongings underneath administration, valued at roughly $76 billion as of July 17.
The milestone comes simply 18 months after the fund’s launch in January 2024, marking a fast accumulation tempo that has drawn industry-wide consideration.
Bloomberg Senior ETF Analyst Eric Balchunas highlighted the achievement on July 8, noting that IBIT is now 62% of the way in which towards surpassing Satoshi Nakamoto as the biggest identified single holder of Bitcoin.
In line with Balchunas, the fund has been including roughly 40,000 BTC per 30 days, or about 1,300 BTC per day, and will attain 1.2 million BTC by Might 2026 if the present development holds.
Along with its rising Bitcoin holdings, IBIT has additionally develop into a top-performing income generator for BlackRock. Of the asset administration agency’s 1,197 ETFs, IBIT now ranks third in income technology at $191 billion, and it’s lower than $9 billion away from claiming the highest spot.
