Crypto News- BlackRock’s iShares Bitcoin Trust (IBIT) has triumphantly surpassed the 100,000 BTC milestone, marking a remarkable achievement in the world of cryptocurrency investments. As of February 13th, IBIT boasts an impressive 105,280 BTC under its management, making it the first spot Bitcoin ETF in the United States to achieve this feat within just 22 days of trading.
Since its launch on January 11, 2024, alongside 10 other issuers, BlackRock has demonstrated an aggressive approach to acquiring BTC through its spot Bitcoin ETF. The growth trajectory of IBIT is staggering, with assets under management skyrocketing by over 3,700% from a modest 2,621 BTC in January to a substantial 100,000 BTC by mid-February.
BlackRock’s Bitcoin ETF Hits 100,000 BTC in Managed Assets
The iShares Bitcoin ETF is not alone in its upward trajectory. Other spot Bitcoin ETFs, such as the Fidelity Wise Origin Bitcoin Fund (FBTC), have also seen significant growth, accumulating 83,925 BTC by February 13th.
However, not all ETFs have experienced the same success. The Grayscale Bitcoin Trust ETF (GBTC) stands out as the sole ETF witnessing a decline in BTC holdings post-launch. Despite initially managing 619,220 BTC, GBTC’s holdings decreased by 25% to 463,475 BTC by February 13th.
BlackRock’s iShares Bitcoin Trust Surpasses 100K BTC Mark: A Milestone in Cryptocurrency Investing
This milestone for IBIT coincides with another record-breaking achievement for spot Bitcoin ETFs, with daily net inflows reaching $631.3 million across 10 ETFs, with the iShares Bitcoin ETF alone attracting $493 million in inflows.
Despite this success, there are indications that BlackRock may be facing challenges in meeting the surging demand for IBIT. Reports suggest that over-the-counter sellers to BlackRock have exhausted their supplies, forcing BlackRock to resort to purchasing BTC directly from platforms like Coinbase.
The news of IBIT’s milestone comes amidst a broader surge in the cryptocurrency market, with Bitcoin reclaiming the $51,000 mark for the first time since November 2021. This resurgence has propelled Bitcoin’s market capitalization back over $1 trillion, a significant milestone in the cryptocurrency’s history.
As of the time of writing, Bitcoin is trading at $51,383, reflecting a remarkable 20% increase over the past month. The Crypto Fear and Greed Index is also reaching levels not seen since Bitcoin’s all-time high of $69,000 in November 2021, indicating increasing investor confidence and optimism in the market.
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