The iShares Bitcoin Trust (IBIT) continues to showcase significant growth, achieving milestones unattainable by other ETFs. It has became the first to surpass 700,000 BTC.
IBIT Achievements and Growth
The iShares Bitcoin Trust (IBIT) has become the first spot ETF to exceed 700,000 BTC, valued at over $75 billion at current prices. This figure represents approximately 3.5% of Bitcoin's entire circulating supply, achieved at a remarkable pace.
Capital Inflows and Growth Rates
On July 7, IBIT logged a daily inflow of $164.64 million, contributing to nearly $50 billion in net inflows since its launch. IBIT remained resilient even as Bitcoin faced turbulence, continually increasing its holdings. Since its approval in January 2024, the fund has averaged almost 39,000 BTC per month in net accumulation.
Concerns and Questions
Some analysts suggest that IBIT could reach a 10% threshold—around 2.1 million BTC—by 2028, assuming no slowdown in inflows. This raises concerns about the effects of such centralization on market liquidity and volatility. IBIT currently holds more Bitcoin than combined known long-term miner treasuries and the Mt. Gox estate.
With the achievement of 700,000 BTC, IBIT opens new horizons for institutional investment in Bitcoin. However, the emerging questions regarding centralization and its impact on the market remain pertinent.
