The iShares Bitcoin Trust (IBIT) continues to gain popularity amid investor interest in Bitcoin, reaching a significant milestone of 700,000 BTC.
Surpassing 700,000 BTC
As of July 3, 2024, the IBIT ticker had already accumulated 698,919 BTC. On July 7, after the U.S. Independence Day, the fund gained 1,510 BTC, allowing it to surpass the 700,000 BTC mark. This indicates that the fund's assets are now valued at approximately $75.5 billion based on current prices.
Comparison with Other Bitcoin Holders
With 700,000 BTC in possession, the iShares Bitcoin Trust has overtaken nearly 600,000 Bitcoins held by Michael Saylor's Strategy, which began purchasing in 2020. Strategy is currently the world's largest corporate Bitcoin holder.
Success of U.S. Bitcoin ETFs
The launch of 11 U.S. spot Bitcoin ETFs has become one of the most successful in history. These funds have collectively amassed 1.25 million BTC, surpassing the Bitcoin stockpile purportedly owned by the Bitcoin creator, Satoshi Nakamoto.
The new milestone achieved by the iShares Bitcoin Trust highlights the increasing interest and adoption of Bitcoin among institutional investors, with the fund remaining one of the leaders in the market.
