VISI.NEWS | BANDUNG – Asset management giant BlackRock continues to grow its Bitcoin holdings, reaching a new record through its iShares Bitcoin Trust (IBIT). The fund now owns over 700,000 BTC, which represents approximately 55% of the total Bitcoin held by all U.S. spot Bitcoin ETFs.

At current market rates, this is valued at more than $80 billion. The milestone comes after a recent acquisition of 1,388 BTC, reflecting BlackRock’s aggressive accumulation strategy, according to ApolloSats co-founder Thomas Fahrer.

Since its launch in January 2024, IBIT has quickly risen to prominence, gathering $76 billion in assets under management (AUM) and capturing 96% of net inflows among all Bitcoin ETFs. It has now surpassed the firm’s own S&P 500 ETF (IVV) in terms of annual fee revenue, generating $187.2 million, slightly edging out IVV’s $187.1 million, despite IVV managing $624 billion in total assets.

This achievement puts BlackRock among the top Bitcoin holders worldwide, ahead of major corporate investors like MicroStrategy, Tesla, and Coinbase.

Industry experts have described the milestone as extraordinary. ETF Store President Nate Geraci commented on X that accumulating 700,000 BTC in only 18 months is “ridiculous.”

On July 7, BlackRock also led the latest round of Bitcoin ETF inflows, pulling in $165 million out of the total $217 million, according to SoSoValue.

BlackRock’s success is drawing international attention. Bloomberg reports that Italy’s UniCredit SpA intends to launch a five-year investment certificate linked to IBIT, giving institutional investors exposure to Bitcoin without the need to hold crypto directly.

Meanwhile, BlackRock’s Ethereum ETF is also gaining momentum, approaching $5 billion in AUM through consistent inflows. @ffr